Bitcoin
Here’s the price of XRP if it captures Bitcoin’s market cap
The price of XRP could skyrocket to a double-digit value of $23 if it reaches the market cap of Bitcoin (BTC), the largest cryptocurrency by market valuation.
The broader crypto market downturn has impacted XRP more severely than most other crypto assets. Notably, this impact is seen in a sustained price suppression that has prevented XRP from rising as much as other tokens during a market uptrend.
XRP Turbulence Affects Its Market Value
Specifically, XRP has risen just 1.48% since the first phase of the ongoing bull market began in October 2023. Meanwhile, Bitcoin has seen a 148% increase, with Ethereum (ETH) and Solana (SOL), respectively , obtaining gains of 87% and 733. % in the same period.
XRP’s underperformance directly impacted its market value, leading to its displacement in the top 10 of Solana’s rankings last December. Solana now has a valuation of $78 billion, making it the fifth-largest asset by market cap. However, XRP’s market cap is $29 billion, ranking seventh, immediately 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 exhibited a similar uneventful movement at the start of the 2017 bull run before eventually firing by more than 48,823%.
However, some of the XRP price predictions made by analysts have been summarily dismissed as wishful thinking by industry commentators. For example, some claim that XRP could reach $10,000. Furthermore, analyst EGRAG recently foreseen XRP will reach a price of $33, citing historical context.
XRP price if it reaches Bitcoin’s market cap
The argument against most of these predictions is the market value of XRP, should it ever reach them. At a price of $10,000, XRP would have a market cap of $550 trillion, making it by far the largest asset in the world. There is not enough money to sustain this market valuation.
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As a result, we evaluate how high the price of XRP can realistically reach if it captures a market value already proven to be viable in the crypto industry. With Bitcoin being the largest cryptographic asset, its valuation represents the highest viable for any cryptocurrency, currently standing at $1.32 billion.
At this point, Bitcoin is 45.56x above XRP in market cap. The data confirms that if XRP captures this $1.32 trillion market valuation, its price per unit would skyrocket to $23.91, marking a double-digit value, and a 622% increase from the current high. historical $3.31.
Several analysts argue that this price is completely viable for XRP. In March, EGRAG happy that XRP could rise to $27. Last year, market analyst Permabull predicted that XRP would reach $23.8 in June. However, this projection did not materialize. XRP currently trades for $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 opinion of The Crypto Basic. Readers are encouraged to do thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
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