Should You Forget Bitcoin and Buy XRP Instead?

Bitcoin's (CRYPTO: BTC) price has doubled during the past 12 months. Several catalysts drove the world's top cryptocurrency higher: The approvals of the first Bitcoin spot price exchange-traded funds (ETFs) in January, its halving in April which cut its mining rewards in half, the Federal Reserve's long-awaited interest rate cut in September, and its growing adoption as a recognized currency in countries like El Salvador and the Central African Republic.

Bitcoin's (CRYPTO: BTC) price has soared over 100% during the past year. Several catalysts drove the world's top cryptocurrency higher:

* The approvals of the first Bitcoin spot price exchange-traded funds (ETFs) in January.

* Bitcoin's halving in April, which cut its mining rewards in half.

* The Federal Reserve's long-awaited interest rate cut in September.

* Bitcoin's growing adoption as a recognized currency in countries like El Salvador and the Central African Republic.

But as Bitcoin's price continues to rise, and other cryptocurrencies like Ethereum's (CRYPTO: ETH) Ether and other proof of stake (PoS) cryptocurrencies generate more buzz, some investors might be wondering if it's still worth buying Bitcoin. Or should they be considering other cryptocurrencies instead?

One cryptocurrency that has significantly outperformed Bitcoin this year is XRP (CRYPTO: XRP). Despite being delisted from several major cryptocurrency exchanges in 2020 after the Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs, XRP's native token, has rallied over 300% year-to-date as of early December.

Could XRP be a better buy than Bitcoin right now, especially as Bitcoin faces more