Can XRP surpass Bitcoin? The valuation test.
CRYPTO | MARKET ANALYSIS — A prediction that XRP could one day overtake Bitcoin sounds decisive. It is really a thought experiment about liquidity, adoption and the difference between a payment network and the price of its token.
What the claim says
In a September 26, 2026 report, Benzinga described analyst Rob Cunningham’s argument: if a large amount of capital moves onto the XRP Ledger, XRP could benefit substantially, but only if enough of that capital is actually converted into XRP and held. That qualification changes the whole story. Using a blockchain to move value is not the same as buying its native asset and storing it.
Why market value is tricky
A cryptoasset’s market capitalization is the current marginal price multiplied by circulating supply. It is not the sum of dollars deposited into that asset. Prices respond to the balance of buyers and sellers, especially when available liquidity is thin. That can produce surprisingly large changes in quoted market value from relatively small net trades. It does not mean all holders could sell at the last traded price.
Bitcoin and XRP do different jobs
Bitcoin’s investment case is typically discussed in terms of scarcity, settlement resilience and its role as a volatile alternative asset. XRP’s supporters focus more on payment infrastructure, liquidity and the possibility that transaction usage creates token demand. The latter depends on actual market structure: institutions may use a network without maintaining large XRP balances. Competition from other settlement options also matters.
What an investor can verify
Before treating a projection as an investment thesis, separate network volume from token purchases. Look at circulating supply, transaction fees, the proportion of XRP that users must actually hold, and whether an increase in activity persists after incentives expire. Compare independently reported data and avoid assuming price will follow theoretical network throughput.
The money consequence
Any single cryptoasset can move sharply on news or speculation. A disciplined position size, a clear risk limit and an understanding of custody are more useful than a dramatic market-cap target. None of this claim guarantees XRP will surpass Bitcoin, or that either asset will appreciate.
Source and context
Benzinga, September 26, 2026. This article discusses a conditional analyst scenario, not a verified forecast.
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