With altcoin season potentially on the horizon, discussions have arisen about whether XRP can surpass Ethereum during this run. Crypto founder Arthur Hayes has made a case for ETH leading the way, while Dom Kwok, another crypto founder, believes XRP will pull a surprise.
Can XRP Flip Ethereum As Altcoin Season Approaches
In an X post, Arthur Hayes indicated that Ethereum will outperform XRP when the altcoin season begins. The BitMEX founder noted that Bitcoin has broken through its all-time high (ATH) on good volume and that ETH is following and will outperform. He further urged market participants to get ready for a “monster” altcoin season.
Hayes added that the market is pricing in the likelihood that Donald Trump will again extend the tariffs deadline on August 1. In another X post, the crypto founder again doubled down on Ethereum, leading the way above other altcoins, such as XRP. He declared that it is ETH season and expects the entire Ethereum ecosystem to thrive as a result.
On the other hand, Dom Kwok has doubled down on his prediction that XRP will flip Ethereum. He noted that at the start of the year, he made this prediction and that hw now thinks it is going to happen even sooner than he originally predicted. Earlier in the year, the former Goldman Sachs analyst had highlighted two factors that could make this prediction come true.
First, he stated that the RLUSD stablecoin could act as a tailwind by boosting XRP’s demand as the native token of the XRP Ledger, since RLUSD users will need it to transact. It is worth noting that Circle’s USDC has also since launched on the XRP Ledger, another development that could also boost the altcoin’s demand and see it outperform Ethereum.
Kwok mentioned the potential XRP ETFs as the second tailwind that could cause XRP to flip Ethereum. He expects these funds to have a positive impact on the altcoin’s price, similar to the effect the Bitcoin ETFs had on the Bitcoin price. These XRP funds are expected to launch this year. Market expert Nate Geraci remarked that Ripple’s decision to drop its cross-appeal in the XRP lawsuit brings these funds one step closer to launch.
The Most Simple Bull Case For XRP
In another X post, Kwok outlined what he described as the simplest bull case for XRP that no one is talking about. He stated that retail is priced out of Bitcoin and Ethereum, so new retail investors will buy XRP instead of the first two largest cryptos by market cap.
He noted that XRP is the third-largest crypto by market cap, yet trades at just around $3.20. The crypto founder believes this combination alone makes it the “most appealing” crypto to any new retail investor. The XRP price has skyrocketed on this recent crypto market rally and looks set to reach new highs in the coming weeks.
Featured image from Adobe Stock, chart from Tradingview.com
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