Bitcoin (BTC) maximalists have long dismissed altcoins as mere speculative assets, but Ripple’s steady growth in global finance is beginning to challenge that narrative, according to a prominent social media influencer.
While Bitcoin continues to reign as the leading cryptocurrency by market cap, Ripple’s native token, XRP, is carving out a significant niche in an area where Bitcoin has faced challenges: real-world financial infrastructure.
With new institutional products and an expanding list of partnerships, XRP influencer John Squire believes the token is proving it’s much more than just another altcoin – it’s emerging as a legitimate contender for mainstream adoption.
Bitcoin’s Decentralization vs. XRP’s Practicality
Squire sparked a heated debate on X (formerly Twitter) on May 20, stating that XRP is challenging the very foundations BTC was never able to touch.
“Maxis hate that XRP doesn’t need miners, uses minimal energy, and settles in seconds,” Squire posted.
For him, the competition between the two isn’t about technicalities but ideological differences. He argued that XRP’s focus on utility, integration, and real-world adoption is what truly sets it apart.
“Decentralization? That debate’s over,” Squire added. “What matters now is utility. And XRP delivers.”
While these comments may seem provocative to some, there’s growing substance behind them. Ripple is forging critical partnerships with banks, central banks, and payment providers across the globe.
In April, Ripple acquired prime brokerage firm Hidden Road and made a $5 billion bid to acquire stablecoin issuer Circle. While this bid was reportedly rejected, there are rumors that Ripple raised the offer to $20 billion in an effort to outbid interest from Coinbase.
Additionally, the Chicago Mercantile Exchange (CME) recently launched XRP futures contracts, paving the way for institutional exposure. This move came just days after a court denied Ripple and the SEC’s proposed $50 million settlement, making one thing clear: despite legal challenges, XRP is gaining serious attention from the financial elite.
For Squire, XRP’s increasing list of partnerships and potential use cases is what gives the token its real value. “XRP isn’t competing for price — it’s competing for relevance. And every new deal, partnership, or use case is proof,” he argued.
Can XRP Truly Challenge Bitcoin?
However, not everyone is on board with this viewpoint. Some critics question which banks are actually using XRP, rather than just expressing interest. One commenter stated, “No Bitcoiner is worried about XRP. It’s only shaking its own pillars.”
Looking at price action, XRP has remained relatively quiet despite the CME futures launch. Currently trading at $2.37, it has seen a modest 0.3% increase in the past 24 hours but is down 8.4% over the past week. In contrast, Bitcoin has gained 1.6% in the past day and 3.5% over the past week, bringing it close to its all-time high.
Despite the mixed opinions, Ripple’s quiet rise begs the question: Should Bitcoin Maxis start worrying about XRP’s growing influence?
