Markets
Here is the XRP price 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 cryptocurrency market downturn has had a more severe impact on XRP than most other crypto assets. Notably, this impact is seen in a prolonged price suppression that has prevented XRP from rising as much as other tokens during an uptrend in the market.
XRP Turbulence Affects Its Market Cap
Specifically, XRP has only risen 1.48% since the start of the first phase of the ongoing bull market in October 2023. Meanwhile, Bitcoin has seen a 148% increase, with Ethereum (ETH) and Solana (SOL ) which recorded gains of 87% and 733% respectively. % in the same period of time.
XRP’s underperformance has had a direct impact on its market capitalization, leading to its Displacement in the top 10 ranked by Solana last December. Solana now boasts 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 in seventh place, 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 showed similar dull movement at the start of the 2017 bull run before finally to the stars by over 48.823%.
However, some of analysts’ XRP price predictions have been summarily dismissed as wishful thinking by industry commentators. For example, some to assert that XRP could reach $10,000. Furthermore, recently the analyst EGRAG expected XRP commands a price of $33, citing historical context.
XRP price if it reaches Bitcoin’s market cap
The argument against most of these predictions is XRP’s market capitalization, 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 support this market valuation.
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Accordingly, we have assessed to what level the XRP price can realistically rise if it reaches a market capitalization already proven viable in the cryptocurrency sector. With Bitcoin being the largest crypto asset, its valuation represents the highest possible for any cryptocurrency, currently standing at $1.32 trillion.
At this point, Bitcoin is 45.56 times larger than XRP in market capitalization. The data confirms that if XRP manages to capture this $1.32 trillion market valuation, its price per unit would skyrocket to $23.91, marking a double-digit figure and a 622% increase over the current all-time high of $3.31.
Numerous analysts argue that this price is completely feasible for XRP. In the month of March EGRAG happy that XRP could rise to $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% over the past 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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