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June 27, 2022
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Bitcoin vs Ripple: who is growing the most?

The comparison between Bitcoin (BTC) and Ripple (XRP) reveals that the two cryptocurrencies perform somewhat differently over time.

In 2021, for example, XRP significantly outperformed BTC, as it registered more than 400%, compared to 85% of bitcoin.

However, BTC clearly dominates in the long run, as the XRP has yet to break the historic record of January 2018.

Taking the last 12 months as a reference, bitcoin registers + 600%, while XRP + 500%, but going back, for example, before the big speculative bubble in late 2017, bitcoin has multiplied its value by at least ten times, while The XRP stops at five.

In addition, today’s drop for XRP scores -34% last week, while BTC stops at -14%.

Bitcoin vs Ripple

Despite this, several Ripple exponents continue to criticize Bitcoin, probably to try (in vain) to promote XRP as an alternative.

For example, Ripple co-founder Chris Larsen argues that Bitcoin will have to abandon the Proof-of-Work (PoW) consensus algorithm to remain the dominant cryptocurrency worldwide, although this is an assumption that is not shared. by virtually any Bitcoin expert.

The curious thing is that BTC and XRP are not really competitors, although the communities of supporters of the two cryptocurrencies have been rivals since time immemorial. The conflict revolves mainly around the refusal of Bitcoin supporters to consider XRP a complete cryptocurrency, due to the fact that most tokens are still in the hands of the private company Ripple, to which XRP supporters respond by arguing that from one point of view, the cryptocurrency created by Ripple should be considered superior.

However, in both cases, and despite today’s declines, a series of optimistic medium to long-term forecasts persist for BTC and XRP.

For bitcoin, the idea that the price could reach $ 70,000 in the coming weeks or months is still circulating persistently, while for XRP forecasts have been circulating for some time that it can reach more than $ 2, or even $ 2.5.

In other words, there are still a lot of bullish investors in bitcoin and XRP, despite the fact that prices have already risen a lot over the course of 2021 and are now falling.

Source: cryptonomist

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