In 2018, Google Trends came up with data that show more US users searched for the term “How to buy Ripple” than “How to buy Bitcoin”.
Google also found, however, that those outside the US interested in cryptocurrency searched more for information about taking up a position in the current number one digital asset by market capitalization, than they searched for buying XRP.
The term “Bitcoin” also outperformed “XRP” or “Ripple” as a Google search term in the US, as well as globally.
Many have been speculating that a flippening of XRP in relation to Bitcoin will occur, to make XRP more valuable than Bitcoin – but Bitcoin is still outperforming Ripple XRP generally in Google search terms.
Weiss Ratings for Bitcoin and XRP
Weiss Ratings to the end of March 2019 place Ripple XRP and Bitcoin in 1st and 3rd positions, respectively, in a Top 10 Ratings List for Tech/Adoption.
Here is what Weiss has to say about Ripple XRP and Bitcoin and their rivals:
- XRP (Tech/Adoption Grade: A and managed by Ripple) is best positioned to compete with SWIFT – the global network for interbank money transfers.
- EOS (Tech/Adoption Grade: A) is currently the leading cryptocurrency challenging Ethereum to become the backbone of the new Internet.
- Bitcoin (Tech/Adoption Grade: A) – upgraded with the rollout of its Lightning Network, Bitcoin is the best-positioned crypto to become a popular store of value for savers and investors.
- Ethereum (Tech/Adoption Grade: A-) is the most widely used smart-contract platform, but currently faces difficulties with scaling.
- Cardano (Tech/Adoption Grade: B+) aims to provide the most advanced smart contract capabilities, monetary policy and governance.
Weiss adds that also making the Top 10 list for technology and adoption are Steem, NEO, Stellar, Zcash, and BitShares.
Weiss ranks its Top 10 Cryptocurrencies for the next year as:
|1||XRP||Tech/Adoption Grade: A|
|2||EOS||Tech/Adoption Grade: A|
|3||Bitcoin||Tech/Adoption Grade: A|
|4||Ethereum||Tech/Adoption Grade: A-|
|5||Cardano||Tech/Adoption Grade: B+|
|6||Steem||Tech/Adoption Grade: B+|
|7||NEO||Tech/Adoption Grade: B+|
|8||Zcash||Tech/Adoption Grade: B+|
|9||Litecoin||Tech/Adoption Grade: B+|
|10||Stellar||Tech/Adoption Grade: B+|
XRP, it appears, is best placed to take on traditional banking systems – but Bitcoin and other cryptos remain popular with customers, with Bitcoin “the best-positioned crypto to become a popular store of value for savers and investors”.
However, the “bank-friendliness” of Ripple XRP is the main reason why its fans and investors continue to believe that eventually XRP will overtake Bitcoin – the original cryptocurrency – as the premier digital asset by market capitalization (ie the total value of a publicly traded company, computed as number of outstanding shares x share price – also known as “market cap”).
Twitter debate on XRP v Bitcoin
The Twitter debate on the subject oscillated between abusive puns on the name Bitcoin, to more informed opinions as to what might happen.
@Sell_Seven aka Talented Mr Rippler XRP is of the opinion that Ripple XRP “will be stabilized at $110-$115” as a first step.
“…but that’s only the first global step. As volume ramps this will be adjusted”.
@etawong disagreed that this would happen, although agreed that it would make sense.
“If institutions use XRP, it is beneficial for them to keep the price high,” he added.
@MikeMayron claimed that the “Math seems to agree”:
“$100 xrp = 10 trillion valuation, which is over 6x the USD supply and more than all gold. Is everyone of the mind set [sic] xrp will be 6x more valuable than the US treasury or gold markets?”
If crypto – and XRP in particular – does exceed the price of gold, it might make sense for investors to start supporting cryptocurrencies as well and crypto reserves might even start to appeal to governments.
@bayernn1886 aka Cryptophoenix was quick to dispute the “math”, though:
“cap myth? MC is NOT the invested money. Its [sic] all about the circulating coins and how much people want to pay. Last BTC pump was triggered with 100 Mio. Someone payed [sic] 5000$ per coin and bought 20k BTCs. Price jumped to 5000$, MC jumped $18 bil…More… Why do people still believe the market.”
In terms of total size of market, XRP is still a way behind Bitcoin, which remains the most popular and best-known cryptocurrency.
US Google users and XRP v Bitcoin
It was a former engineer at Coinbase, Preethi Kasireddy, who tweeted that, according to Google Trends, the term “How to buy Ripple” was more commonly used than “How to buy Bitcoin” in the US during 2018 – and there is no denying from the data that, in the US, Google users seem to lean more towards XRP than Bitcoin when searching for information on buying crypto.
In response to Kasireddy, Weiss Ratings tweeted:
@WeissRatings “According to Google Trends last year, the number of US users searching for ‘how to buy #Ripple’ was greater than the popular search engine query ‘how to buy #Bitcoin’. This should should make #XRP fans happy.
7:35 am – 3 Apr 2019”
“Bank-friendliness” – potential XRP utility
Google data was based on the potentially increased utility that a rise in transactions per second provided.
In the Weiss Ratings to March 2019, Weiss further ranks the Top 4 cryptos for one-year growth in daily user transactions as:
|1||EOS||7K in 2018 to 4.6m in 2019|
|2||WAX||zero in 2018 to 4.4m in 2019|
|3||TRON||3K in 2018 to 1.9m in 2019|
|4||BITSHARES||789k in 2018 to 1.5m in 2019|
These are daily transactions, not transactions per second, but it is clear that EOS and WAX in particular have seen a huge rise in popularity and daily user transactions over the last year.
However, when risk and rewards are factored into the Weiss Ratings Top 10, the chart looks as follows, with XRP and Bitcoin at 2nd and 3rd place after EOS – and the Top 4 tying with a rating of B- :
It is clear that cryptos are still a high-risk investment, both from the point of volatility and the risk of hot wallet hacks at exchanges.
This takes us back to Twitter user Etienne Tawong for a possible current conclusion to the debate over Ripple XRP and Bitcoin:
Analytics image licensed via Shutterstock.