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XRP Former chief technology officer of Ripple: XRP's market value surpasses Bitcoin's market value requires its own rapid growth
David Schwartz, former chief technology officer of Ripple, said that XRP may eventually surpass Bitcoin in market value, but he believes that this "flipping" will stem from XRP's rapid expansion rather than the collapse of Bitcoin.
During an X Spaces discussion, when asked if he really believed XRP could surpass Bitcoin, Schwartz gave an affirmative answer and added an important prerequisite.
According to relevant reports, he said: "This will not be achieved by shrinking Bitcoin. It will be achieved by XRP growing faster than Bitcoin."
Schwartz pointed out that the broader digital asset market may expand significantly, allowing the value of both cryptocurrencies to increase at the same time, and XRP is expected to occupy a larger market share thanks to XRP Ledger's speed and functionality advantages. This made his remarks more like a bet on XRP's relative adoption rate than a prediction of Bitcoin's collapse.
XRP needs to rise to about US$25 to match the current Bitcoin market value.
The current gap is still huge. CoinCodex data shows that Bitcoin has a market value of approximately US$1.58 trillion, while XRP has a market value of nearly US$88.9 billion. This means that the market value of Bitcoin is approximately 17.7 times that of XRP.
The number of XRPs currently in circulation is approximately 62.74 billion. Assuming the price of Bitcoin remains unchanged, for the total market value of XRP to reach Bitcoin's current level, the price of XRP needs to be close to $25.10. But this is not a price forecast. If the price of Bitcoin rises, the required "flip" price for XRP will increase accordingly.
XRP is currently trading at around US$1.42-US$1.44, and despite its relatively strong recent performance, there is still a huge gap compared to the target.
However, this view is not entirely without historical precedent. On January 1, 2018, the market value of XRP reached approximately US$92.6 billion. At that time, the market value of Bitcoin was US$229.1 billion. XRP accounted for approximately 40% of Bitcoin's value, ranking the second largest cryptocurrency in the world. Today, its market value only accounts for about 5.6% of Bitcoin.
ETF demand provides new perspective on Schwartz's perspective
These comments come against the backdrop of exceptionally strong demand for regulated XRP investment products. On September 8, the U.S. spot XRP ETF recorded an inflow of US$1.55 million, while Bitcoin, Ethereum and Solana funds all experienced outflows. The latest analysis shows that this divergence follows a broader institutional buying trend.
The XRP ETF previously attracted US$110.49 million in capital inflows during its strongest week in 2026, with a cumulative inflow of approximately US$1.66 billion. Institutional participation is also expanding, with Goldman Sachs becoming the largest publicly disclosed XRP ETF holder, with approximately US$87.4 million in positions.
With the end of Ripple's long-standing litigation with the SEC, XRP has gained a clearer regulatory position in the United States, which is also an advantage discussed in our recent regulatory analysis.
Schwartz's remarks describe a possibility rather than an imminent prediction. The data clearly shows this. To surpass Bitcoin at current valuations, XRP not only needs to outperform BTC, but also needs to fill a market value gap of approximately US$1.49 trillion.
