Markets
Here is the price of XRP if it captures the market cap of Bitcoin
The price of XRP could skyrocket to a double-digit value of $23 if it reaches the market capitalization of Bitcoin (BTC), the largest cryptocurrency by market valuation.
The broader crypto market downturn has had a more serious impact on XRP than most other crypto assets. This impact is notably seen in a sustained price compression that has prevented XRP from rising as much as other tokens during a market uptrend.
XRP turbulence impacts its market capitalization
More precisely, ) recording gains of 87% and 733% respectively. % within the same period.
XRP’s underperformance had a direct impact on its market capitalization, leading to its shift in the top 10 of the Solana ranking last December. Solana now has a valuation of $78 billion, making it the fifth largest asset by market capitalization. However, XRP’s market capitalization stands at $29 billion, ranking it seventh, just below USDC.
Despite XRP’s unfavorable performance, several market analysts expect it to impress as the bull market progresses. Most of these analysts cite historical context for their projections, as XRP showed a similar, boring move early in the 2017 bull run before eventually to skyrocket by more than 48,823%.
Nonetheless, some of analysts’ XRP price predictions have been summarily dismissed as wishful thinking by industry commentators. For example, some affirm this XRP could reach $10,000. Also, the EGRAG analyst recently predicted XRP to land a price of $33, citing historical context.
XRP price if it reaches Bitcoin market cap
The argument against most of these predictions is the market cap of XRP if it ever reaches them. At a price of $10,000, XRP would have a market capitalization of $550 trillion, making it by far the largest asset in the world. There is not enough money to maintain this stock market valuation.
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As a result, we have assessed how high the price of XRP can reasonably reach if it captures a market cap already proven achievable in the crypto sector. As Bitcoin is the largest crypto asset, its valuation represents the highest possible value for any cryptocurrency, currently standing at $1.32 trillion.
At this point, Bitcoin is 45.56 times larger than XRP in terms of market capitalization. The data confirms that if XRP captured this $1.32 trillion market valuation, its price per unit would skyrocket to a double-digit $23.91, and a 622% increase from the current all-time high of $3.31.
Several analysts claim that this price is entirely achievable for XRP. In March, EGRAG thrilled this XRP could reach $27. Last year, market analyst Permabull predicted that XRP would reach $23.8 by June. However, this projection did not materialize. XRP is currently trading at $0.5243, up 0.7% in the last 24 hours.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
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