XRP Ledger’s on-chain trading share now at 12 percent! What does this mean for the Bitcoin vs XRP race?

Debate has once again intensified in the cryptocurrency market over the rivalry between XRP and Bitcoin. On the X platform, popular commentator Digital Asset Investor argued that Bitcoin’s dominance stems less from technological superiority and more from its historical use as the base pairing in crypto trading. In contrast, he suggested that XRP could gain a stronger foothold thanks to its regulatory compliance, increased use of stablecoins, and growing activity on the XRP Ledger.

Base pairings powered Bitcoin’s rise

According to Digital Asset Investor, early crypto investors were often required to transact through Bitcoin to access alternative digital assets. This dynamic meant that Bitcoin became the central point of liquidity in the sector’s formative years, solidifying its lead in market capitalization.

The commentator highlighted that in previous cycles, BTC/USD pairs were front and center, while BTC/USDT transactions took the spotlight in 2017 and 2018. The subsequent increase in Ethereum and Solana-based trading pairs shows that liquidity can gradually shift toward different networks over time.

Regulation and the impact of RLUSD

Looking ahead, Digital Asset Investor believes that regulatory compliance, rather than market speculation, will take precedence in the next phase of the crypto market. In this context, Ripple’s upcoming US dollar-backed stablecoin, RLUSD, could serve as a catalyst for deeper economic activity on the XRP Ledger. Ripple stands out as a US-based fintech company known for its cross-border payment solutions.

Mini glossary: RLUSD is a stablecoin pegged to the US dollar and developed by Ripple. MiCA refers to the European Union’s comprehensive framework aimed at regulating crypto asset markets.

The analyst also pointed out that developers can issue tokens directly on the XRP Ledger—a feature that broadens the use cases within the network. He noted that policies like the US CLARITY Act, Europe’s MiCA framework, and the ISO 20022 payment standards could all help shape institutional involvement going forward.

On-chain data: XRP Ledger versus Bitcoin

Citing data from Evernorth, the article reported that RLUSD’s on-chain transaction share jumped from below 1 percent to nearly 12 percent on the XRP Ledger in just 18 months. During the past six months alone, the RLUSD pair with XRP generated nearly $900 million in trading volume. It was also noted that the total number of addresses on the XRP Ledger surpassed 8.3 million, setting a new record high.

Yet, the size gap between the two assets remains substantial. As of early July 2026, XRP’s market capitalization is estimated between $71 billion and $72 billion, while Bitcoin stands above $1.2 trillion. This underscores the significant ground XRP still needs to cover to catch up over the long term.

Technical snapshot: divergence in the short term

According to TradingView, Bitcoin is trading near $62,767, with a generally neutral technical outlook. The Relative Strength Index (RSI) is at 49, while MACD and Momentum trigger buy signals. However, the Bull Bear Power indicator suggests that sellers have not entirely exited the picture. For Bitcoin, the central pivot is at $63,515, with immediate resistance at $68,995 and primary support at $53,046.

Meanwhile, XRP is trading around $1.17 and currently shows a stronger short-term outlook than Bitcoin. Its RSI stands at 56.40, with buy signals from both the MACD and Momentum indicators. XRP holds above its 10, 20, and 30-period exponential moving averages, while the $1.19 to $1.20 range is seen as a key resistance zone. Longer-term averages, however, suggest that downward pressure has yet to fully dissipate.

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