Ripple ranks higher than Bitcoin among the US users according to last year’s Google trend. Will Ripple replace Bitcoin soon?
April 03, 2019. AtoZ Markets – Is Ripple flippening incoming? Going by 2018’s Google trend, there are more US users who searched for the query ”how to use Ripple” on the search engine than the query ”how to use Bitcoin”. However, the opposite happened in other places outside the United States. Google users outside the US searched more frequently on anything related to Bitcoin than Ripple.
Bitcoin was the first and has been the highest ranked cryptocurrency with nearly half of the total market capitalization. However, in 2016 and 2017, Ripple rose to be ranked among the top three. In fact, it recorded the highest gain amount other major coins during the pre-2018 rallies and was ranked 2nd for some months in late 2018.
The rise of Ripple
The rise of Ripple to become the highest-ranked altcoin saw many of its advocators and investors believe that, given more time, the token would replace Bitcoin as the top cryptocurrency in terms of market capitalization. Some of them saw Bitcoin as a project which rose to prominence because it was the first. They saw flaws in the flagship cryptocurrency both in its costs and speed of transaction. The fact that Ripple is also bank-friendly, it could get faster adoption. If the huge financial institutions can utilize Ripple, it could garner more market trust leading to more users, investors and projects. Because of the many advantages Ripple has over Bitcoin, a large number of XRP-enthusiasts are banking on the cryptocurrency outranking Bitcoin one day.
Will Ripple ”flippening” happen?
”Flippening” refers to a point in time at which another cryptocurrency grows bigger than Bitcoin in terms of market capitalization, value and reputation. This has not happened yet at any time. Did you Ripple was close at a time? Will Ripple flippening happen?
Currently, the gap is still big. Bitcoin’s current market capitalization of $88 billion dwarfs Ripple’s $15 billion by almost 6:1 according to data on coinmarketcap. So far in 2019, Bitcoin has gained more than Ripple in both market capitalization and price growth. Meanwhile, looking back in time, how fast has Ripple caught up with Bitcoin?
In 2013, when Bitcoin’s market capitalization was around $1.5 billion, Ripple had less than $40 million. Bitcoin was greater by at least 40:1. Four years later, in 2017, after the boom, the difference fell to just 1.7:1 in January 2018. On December 15-17 when Bitcoin hit its peak, the difference dropped to nearly 11:1 with $326 billion against Ripple’s $30 billion. The difference hits its lowest of 1.7:1 on January 3-5, 2018 when Ripple peaked at $143 billion against Bitcoin’s $248 billion and hit the 2nd position for the first time. Ripple was at a time, very close to flippening before the 2018 bearish market killed the momentum. Currently, the difference has increased to nearly 6:1. The current difference is not insurmountable considering how close it was in January 2018. If Ripple performs better in the next bullish phase, flippening is very much likely.
There are a growing number of bank partnerships in 2019 for Ripple. One of these was the recent adoption on WooCommerce and the addition on Coinbase pro. In spite of this, it has performed worse in 2019 than Bitcoin so far even after the current surge to 35 cents. However, Ripple’s big share in the US cryptocurrency market space could turn the story the other way before the year ends or in the next bullish phase. Watch this space.
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