Buying Onyxcoin (XCN) Could Be Better Than Ripple (XRP): Here's Why

Cryptocurrency analyst Lee the Captain made a bold claim: he'd rather invest in Onyxcoin (XCN) than XRP. While emphasizing that his analysis isn't financial advice, Lee presents a compelling case for XCN's potential growth compared to its more established competitor.

Cryptocurrency analyst Lee the Captain has shared his preference for investing in Onyxcoin (XCN) over Ripple’s XRP token. While stating that his analysis does not constitute financial advice, Lee presents his reasoning for choosing XCN’s potential growth over its established competitor.

Lee’s preference is not a critique of XRP’s fundamentals, but rather a focus on comparative growth potential. He suggests that XCN’s market dynamics make it more appealing for investors seeking substantial returns. While acknowledging XRP as a strong project, Lee argues that XCN presents a better opportunity for short-term growth.

Onyxcoin (XCN) and Ripple (XRP) Price Ambitions

When discussing price predictions, Lee sets an ambitious target of $25 for XCN during the bull run. This would entail a 94x return from current prices, resulting in a $8 billion market capitalization.

For perspective, he compares this to Dogecoin’s 2021 peak market cap of $80 billion, arguing that $8 billion is reasonable for a project addressing real-world financial challenges.

Contrasting this with XRP, Lee highlights a key limitation. For XRP to achieve the same 94x growth, its price would need to reach about $240, entailing a $14 trillion market cap. “That’s seven times Canada’s entire 2023 GDP,” he points out, rendering such growth unlikely within a six-month to one-year time frame.

According to Lee, XCN’s lower market cap presents more potential for growth, following the logic that “the lower something is, the more room it has to grow.” In a surprising twist, he suggests that XCN could benefit from XRP’s success, as crypto investors tend to diversify into related projects. When a blockchain project performs well, similar projects like XLM, XDC, and XCN usually pique interest.

Like XRP, Onyxcoin (XCN) aims to revolutionize financial services using blockchain technology. The project targets the $2 trillion payments market and the global trade and finance market, projected to reach $5 trillion by 2028. While both XRP and XCN cater to similar markets, XCN’s lower market cap offers a more attractive risk-to-reward ratio, according to Lee.

Lee acknowledges concerns about XCN’s smaller size but highlights its presence on major exchanges like Coinbase, Kraken, and Gate.io, attesting to its legitimacy. “This isn’t some random micro-cap meme coin,” he notes, alluding to the stringent vetting processes employed by these platforms.

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Accumulating XCN Tokens Incrementally

Instead of engaging in speculative trades, Lee advocates for gradually accumulating XCN tokens. He cites favorable market conditions, including record-high crypto ownership exceeding 600 million users globally.

With institutional investment increasing and Bitcoin and Ethereum ETFs gaining traction, he anticipates projects focused on payments and global trade will flourish.

While expressing admiration for XRP and its leadership under Brad Garlinghouse, Lee sees XCN as a “miniature version of XRP” with superior growth potential. He concludes that while he doesn’t expect XCN to surpass XRP, it offers a better return over the next six months to a year. “If I had to choose one project to put my money into for the next 6 months to a year, it would be XCN.”

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