Markets
XRP Could Rise 12,074% If Its Market Cap Equals Apple’s, Here’s What the New Price Would Be
With XRP up 20.5% on the weekly chart, we assessed the token’s price if its market cap reached the valuation of tech company Apple.
XRP price continued to react positively on the one-year anniversary of Judge Analisa Torres’ summary ruling.
XRP surges 20.5% in 7 days
On July 13, 2023, Judge Analisa Torres provided the long-awaited clarity that XRP investors have been looking for by stating that the coin itself is not a security.
Exactly one year after the summary judgment, the price of XRP has surged 20.5% on the weekly charts to $0.5153. At press time, XRP is up 10.12% in the last 24 hours.
XRP’s remarkable performance in recent days has rekindled investors’ hopes of an imminent surge that could take the price to unprecedented levels. As a result, some enthusiasts predict that XRP could potentially impact the valuation of American tech company Apple in the future.
XRP Price If It Reaches Apple’s Market Cap
Based on this projection, we assessed the price of XRP if it reached the market cap of Apple shares. As a reminder, Apple has a market cap of $3.54 trillion. However, XRP’s valuation is significantly lower, currently sitting at $28.83 billion.
This indicates that XRP’s valuation needs to increase by 12,074%, or 120.74x, to reach Apple’s market cap of $3.54 trillion. With XRP currently trading at $0.5153, a massive 12,074% surge would see the token reach a price level of $62.7326, assuming its circulating supply remains at its current level of 55.8 billion.
Other Ambitious Goals of XRP
While many may consider the $62 price tag outrageous, some experts have already set loftier goals for the coin.
In particular, popular cryptocurrency expert Andrew Forte projected that XRP could hit $100 by 2037, or about 13 years from now. Another crypto enthusiast, 24HrsCrypto Media, also together a $100 target for XRP.
To reach the $100 target, XRP needs to increase 59.4% from the projected price of $62.7326 that the coin could reach if it matches Apple’s market cap.
Potential Timeline for XRP’s Surge to $62
In the meantime, we consulted several prediction platforms to determine when the $62 projection could materialize. Telegaon and Changelly speculate that XRP could reach the target in the coming years.
Specifically, while Telegaon sees XRP reaching the $62 level between 2040 and 2050, Changelly suggests that the target could be reached between 2033 and 2040.
There is no guarantee that XRP will match Apple’s market cap or trade at $62 per token in its lifetime, so it is advisable to exercise caution and only invest an amount that you can afford to lose.
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 opinion of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
-Advertisement-