XRP Talk Heats Up On Crypto Twitter
Since XRP’s market capitalization surpassed that of Ethereum (ETH) last week, discussion regarding the asset’s long-term prospects has popped in in droves, with the project’s dedicated (even cult) following taking to Twitter to tout their flavor of the month, so to speak. As recently put by Mati Greenspan of eToro, the go-to digital asset for Ripple Labs, “is basically winning social media.”
XRP is basically winning social media. https://t.co/AprYyDuZ81
— Mati Greenspan (@MatiGreenspan) November 18, 2018
Binance CEO Changpeng Zhao, better known as CZ, acknowledged the XRP community as well, joking that the asset’s “shill is strong,” before subsequently telling his followers to flush this wanton “shilling” out of their systems in an apparent joke.
Calls For A BTC “Flippening” Ramp Up
Still, while Zhao may have given XRP’s advocates a chance to vent steam, while Bitcoin (BTC) found a home at $5,600, XRP went on its own self-contained micro bull-run, recently recovering from its November 14th multi-week low. As put by The Crypto Dog, a well-known pseudonymous crypto analyst, “XRP and XLM looking like they ready to start alt season all by themselves.”
But, while calls for an “altcoin season” were present, some took these feelings to the extreme, with Ripple Riddler taking to Twitter to (jokingly?) express that “before [the] end of 2018, XRP will be #1 [in terms of] market cap,” adding that “big things are right around the corner.”
Screenshot this, retweet this, like this. Do whatever you want with this. Here we go…
Before EOY, XRP will be #1 for market cap. No riddles, straight up message. Big things are right around the corner…#xrp #XRPthebase #XRPcommunity #Ripple #ripplenet #xrpthestandard pic.twitter.com/jag9j4HP96
— Ripple Riddler (@RippleRiddles) November 18, 2018
Riddler’s comments are evidently alluding to the controversial sentiment that eventually, XRP will oust Bitcoin, before establishing hegemony over the cryptosphere as a whole.
XRP even received some clout from Ran NeuNer of CNBC Africa, who claimed that Bitcoin Cash’s ongoing hashwar only highlights that investors “should dump BTC and BCH,” and then subsequently reallocate their wealth into the now second-highest capitalized digital asset.
NeuNer even went on to issue a poll about how crypto investors would allocate their wealth into crypto over a 10-year period. And, to the surprise of some, XRP’s proponents actually outed Bitcoin’s, beating the world’s first cryptocurrency by a staggering 2,000 votes (12%).
Even the image below, which highlights the Grim Reaper (XRP) knocking on the door of Bitcoin after massacring Ether, Litecoin, Stellar Lumens, garnered 1,100 likes and 325 retweets, further cementing the asset’s popularity and notoriety.
It’s coming!!! #xrp #xrpthestandard #ripple #xrpcommunity #XRPcommunity pic.twitter.com/Xajuqn3Qyv
— FirePower (@FirePowerFP) November 17, 2018
The bottom line is that somehow, out of somewhere, a multitude of crypto investors have decided that eventually, XRP could surpass Bitcoin in some way, shape, or form.
However, some took this “flippening” discussion as nothing more than a joke, with a number of prominent crypto analysts/investors poking fun at the Ripple community through a series of tweets. Moon Overlord, a cryptocurrency trader and well-known commentator, joked that he “unironically thinks” that XRP could flip BTC.
I unironically think $xrp could flip $btc in terms of marketcap 👀
— Moon Overlord (@MoonOverlord) November 18, 2018
Moon later doubled-down on this trolling, taking to Twitter to explain that XLM and XRP, both parented in part by Jeb McCaleb, could reach $10 to $15 a pop in the near future, alluding to the market capitalization qualms that many altcoin maximalists struggle with.
BitLord echoed Moon’s penchant for trolling, explaining that as Ripple’s go-to token could flip BTC in 2019, then touching on the “#XRPTheStandard” meme/joke that has circulated around crypto-related social media channels in recent years.
The higher $XRP climbs the more I am certain it will flip $BTC in 2019.
Very obvious this will be our new crypto standard.
Hard to accept for many but so was bitcoin back in 2010
— 𝕭𝖎𝖙𝖑𝖔𝖗𝖉 💮 55 (@Crypto_Bitlord) November 18, 2018
On a more serious note, Craig “Faketoshi” Wright, a proponent of Bitcoin Satoshi Vision, had lots to say on the matter. Wright, an Australian cryptographer who claims to be Satoshi, explained that the asset is far from a utility token, adding that its use as a “tradable good that is sold under the expectation of profit” makes it a security. If the U.S. Securities and Exchange Commision, or any respectable financial regulator for that matter, deemed XRP a security, a strong sell-off could ensue.
For XRP not to be a security, it will need to be a real utility offer. IF something is exchanged with expectations of profit, it is not a utility token.
XRP is a tradable good that is sold under the expectation of profit. That in itself makes it a security.
— Dr Craig S Wright (@ProfFaustus) November 18, 2018
Not only is XRP a potential security, but, as put by CryptoHustle, not a “permissionless decentralized money without masters,” seemingly alluding to the argument that Ripple’s system promotes centralization and the propagation of traditional financial systems.
$XRP will never replace $BTC because it doesn’t offer the same value proposition. It’s good for what it is (cheaper and faster SWIFT) and congrats to anyone who made money off it but it’s not permissionless decentralized money without masters.
— ฿TF%$D! (@CryptoHustle) November 18, 2018
Regardless, it has only become even more apparent that talk surrounding this subject isn’t slated to dissipate anytime soon, that’s for sure.