XRP to Knock Ethereum (ETH) Off the Podium as the Second-Largest Cryptocurrency by Market Cap?

The contrast in performance between XRP and Ethereum (ETH) comes into focus amid a commentary from popular crypto influencer Da Sheriff Crypto.

A recent commentary from popular crypto influencer Da Sheriff Crypto highlights the contrasting performance of XRP and Ethereum (ETH) over the past year.

According to Sheriff's analysis, an investment of $1,000 in XRP a year ago would have seen an impressive 354% increase. This figure is derived from XRP's appreciation from $0.5384 in January 2024 to its current price of $2.57.

In other words, a $1,000 investment in XRP, which acquired 1,857 tokens a year ago, is now worth approximately $4,540. During this period, XRP's value even reached a more substantial $3.40 price, making the investment worth $6,315 at its peak.

On the other hand, a one-year investment in Ethereum didn't fare as well compared to XRP. Specifically, Ethereum traded at $2,778 a year ago, but the token is currently exchanging hands at $2,680, indicating a 4.6% decrease. As a result, an investment of $1,000 in ETH from last year would now be worth just $965.

It is interesting to note that during the peak over the past year, the $1,000 ETH investment was worth $1,475. However, Ethereum could not sustain the gain, with values plunging by over 35% shortly after.

Essentially, despite its dominant position in the crypto space, Ethereum has experienced a dip in its one-year performance, a stark contrast to the massive positive returns from XRP.

This observation has sparked discussions in the crypto community about a new asset potentially taking over as the second-largest cryptocurrency by market cap.

With XRP's stellar performance placing it just behind Ethereum, many are now predicting an imminent flip. Among those joining the conversation is Austin King, a Harvard-trained computer science engineer.

King took to his Substack to highlight XRP's potential, criticizing Ethereum's struggles with inflation and the lack of clear development. He used these points to predict that XRP could surpass Ethereum in market cap.

While there is currently a $177 billion gap between the two assets, a 3X price surge from XRP's current position could be sufficient for it to displace Ethereum.