In a recent post on X (formerly Twitter), Messari analyst Sam Ruskin said that XRP might be worth more than Ethereum (ETH) soon.
He explained that this could happen in the next month because of several reasons, like excitement after the elections, a possible XRP ETF filing, and the current interest in “boomer coins” like XRP.
Ruskin says that XRP’s price has gone up by 460% since the 2024 U.S. election. This shows strong interest from investors and good feelings in the market. He thinks that XRP’s recent success is due to both economic factors and events in its specific area.
Ruskin also mentioned that Donald Trump’s inauguration might lead to a “buying event” for XRP, like what happened after Trump won the election in 2016.
He went on to note that the buzz around the possible US-based XRP ETF filing has increased positive feelings for the crypto. Additionally, new capital gains tax rules might prove favourable for U.S.-based crypto projects, including XRP, thus potentially appealing to investors.
The Messari analyst also mentioned an important trend in the market. Well-known cryptocurrencies like XRP, Hedera (HBAR), Stellar (XLM), and Cardano (ADA) are getting more popular, which Ruskin calls “boomer coins.”
This trend is different from Ethereum, which is having problems with competitors. Ethereum’s market is showing signs of strain, especially with less interest from regular investors and a divided community, which are slowing its growth.
Ruskin said that open interest for Ethereum is at an all-time high, even as its price is down by 30% from its highest ever price of $4,800. The divergence means there isn’t much demand for Ethereum presently.
Meanwhile, XRP open interest has painted a better correlation with price action—a sign of greater demand and conviction in the market.
In fact, Ruskin believes that the price of XRP may rise by as much as 35-50% in the months following the Trump presidency, which is a rise that could take XRP’s value nearer to Ethereum’s current market capitalization of $415.3 billion from its current market capitalization of $187.4 billion.
Also Read: XRP Overtakes Bitcoin on Coinbase as Interest in the U.S Grows
