XRP Reaching BTC Price, Bitcoin IRA Co-founder Weighs in on the Possibility

Bitcoin IRA co-founder and COO recently addressed the discussion around XRP being able to match Bitcoin’s price level someday.

In this latest XRP price news, Bitcoin IRA co-founder and COO commentary comes as the crypto market witnesses a revival, with Bitcoin edging closer to the historic $100,000 milestone. Yet, amid this bull run, several altcoins, including XRP, have massively outperformed the industry’s firstborn. 

XRP Outperforms BTC

Over the past week, Bitcoin’s price has risen by 3% amid the latest pullback, while XRP has maintained an impressive 29% gain, currently trading above $1.44. This disparity has fueled the debates about whether XRP could one-day rival Bitcoin in value.  

Notably, pundits such as Mickle, an XRP community figure, have argued that XRP is capable of outshining Bitcoin. Discussing this last month, Mickle cited comments from former Ripple developer Matt Hamilton on XRP’s technological edge over Bitcoin.

Meanwhile, Chris Kline, co-founder and Chief Operating Officer of Bitcoin IRA, weighed in on the matter during a recent episode of the CoinDesk Podcast. He presented a new perspective on the potential of XRP and other assets while cautioning investors about the volatility in the market.  

XRP Utility Against Bitcoin

Kline stressed that the utility of a cryptocurrency is important for understanding its potential growth. He noted that XRP was designed as a solution for cross-border payments, aiming to disrupt the traditional SWIFT banking system. 

Notably, several institutions see XRP as a potential competitor to SWIFT. Though revolutionary, Kline believes this utility limits XRP’s price potential in comparison to Bitcoin, which operates as a decentralized store of value with a capped supply of 21 million coins.  

According to Kline, if XRP achieved the same price levels as Bitcoin, say $50,000, it would essentially outprice itself from its intended purpose. Kline pointed out that this would undermine its use as a cost-effective payment solution. As such, he argued that the idea of XRP reaching Bitcoin’s valuation misaligns with its design and mission. 

Another factor influencing XRP’s price potential is its supply. Unlike Bitcoin, which has a capped supply of 21 million, XRP’s total supply is much higher. This abundance naturally limits its price ceiling.

However, Ripple CTO David Schwartz previously presented an alternative view years back. According to Schwartz, the higher XRP’s price is, the easier it can be used to move large volumes of funds.

For context, if XRP reached a price of $1 million, it would take just 1 XRP to move funds worth $1 million. Nonetheless, if XRP changes hands at $1, it would take many more tokens, particularly 1 million, to move $1 million worth of funds. As such, Schwartz argued that XRP cannot be “dirt cheap.”

Warnings Around Market Volatility 

Kline’s latest remarks contrast this view. The Bitcoin IRA co-founder made the recent comments while advising investors on their investment choices. Kline warned that investing in digital assets demands a strong stomach. 

Will $XRP ever get to bitcoin’s price levels?@Bitcoin_IRA co-founder Chris Kline shares his thoughts.

Watch the full interview with @JennSanasie here: https://t.co/MOCbmAPod9 pic.twitter.com/cBX9LogY6n

— CoinDesk Podcast Network (@CoinDeskPodcast) November 25, 2024

Price fluctuations are frequent, and many investors find themselves obsessively tracking their portfolios. He likened this experience to becoming a day trader, even if unintentionally.  

Kline also highlighted the importance of understanding market trends. During periods of Bitcoin’s dominance, some investors take profits and shift to altcoins, hoping to capitalize on their higher growth potential. This pattern is evident in XRP’s recent performance. 

However, he cautioned that such moves come with risks, as not all altcoins succeed. Kline encouraged investors to research the tokenomics of assets before making decisions.