Leading Cryptocurrency Analyst Says XRP Will Outperform Bitcoin and Ethereum
When it comes to cryptocurrencies, Bitcoin is known for being the leading coin in terms of market capitalization and dominance. It is such that it is referred to as the benchmark cryptocurrency and market analysts use its performance to forecast the entire market direction.
People in the cryptocurrency space hold different opinion regarding the performance of Bitcoin and altcoins. According to a trader and technical analyst known as TraderSZ, the performance of altcoins will be better than that of Bitcoin in the coming years, and that Ripple (XRP), the third-largest cryptocurrency, is his choice.
TraderSZ featured in a new episode of the Coinist Podcast. While speaking, he said XRP may be the largest gainer of all the cryptos with large capitalization within the coming 12 months.
XRP is the cryptocurrency powering Ripple’s remittance solution known as On-Demand Liquidity (ODL). Its design was to become a faster option for BTC. However, XRP’s critic opined that it is far less decentralized, mainly because Ripple has over 50 percent of its aggregated supply.
Despite XRP’s potential to generate huge gains, TraderSZ does not believe in its long-term prosperity. He said his choice of XRP is probably because it will have larger percentage moves relative to BTC or ETH, but that does not mean it won’t eventually become zero.
He added that XRP can come up with special opportunities for traders because it is a polarizing cryptocurrency asset. TraderSZ continued as follows:
“There’s people listening right now that probably just turned this off and there’s people right now that are literally yelling right now how happy they are that you’re bullish on XRP.”
In the beginning of 2020, the price of XRP was at $0.1934 and later incurred a 13 percent rise to $0.2189. However, the performance of Bitcoin within the same time was such that it rose by 37 percent from $7,234.