Can XRP Hit $10, $100 or $500 with $100B Market Cap

0
8


XRP could clinch higher price levels if its market cap approached the $100 billion mark, but most remain uncertain of the price implication of such a milestone.

Notably, XRP was, for a time, the second-largest cryptocurrency in the market, after Bitcoin (BTC). The altcoin battled with Ethereum (ETH) for this spot for several years but eventually succumbed to bearish pressure, with contributions from the ongoing SEC lawsuit.

XRP’s Historical Market Cap Movements

XRP’s best performance came up during the 2017 bull run, impacting its market cap significantly. This allowed it to push for the battle for top 2 on the market. For instance, from May to November 2017, XRP had a market valuation that ranged from $1.8 billion to $10 billion.

However, as its price skyrocketed in December of that year, XRP’s market cap surged to a record $95 billion. At this figure, XRP’s market dominance rallied to 16.36%, making it the second-largest cryptocurrency. For context, within this period, Ethereum had a peak market dominance of 15.08%.

Interestingly, the next month, XRP saw its market cap soar further to cross the $100 billion mark for the first time ever. The altcoin’s valuation reached a top of $128.49 billion. It reached this market height when its price rallied to a new all-time high of $3.317 in January 2018. At this point, there were about 38.7 billion XRP tokens in circulation.

With XRP now rid of the legal pressure from the Ripple v. SEC lawsuit, multiple market watchers predict ambitious targets, with audacious ones like $27 and $200+ featuring prominently. Meanwhile, most skeptics who doubt the feasibility of such price targets point to the possible resulting market cap for XRP.

Can XRP Hit $10, $100 or $500 with $100B Market Cap

Notably, XRP’s peak valuation is $128.49 billion, suggesting it is well capable of recovering this level. However, what would its price be at such a market cap today? 

For context, XRP now has a circulating supply of 56.8 billion tokens, an increase of 18.1 billion tokens since January 2018 due in large part to Ripple’s periodic escrow releases. At the 56.8 billion token supply, a $100 billion valuation would translate to a price of $1.76 per XRP, way below its ATH.

Meanwhile, if XRP recovers the peak market valuation of $128.49 billion, its price will have increased to $2.26, still below the all-time high price. This lower price is due to the inflation that has plagued the market over the past seven years.

This assessment confirms that XRP will not even reach a new all-time high even if its market cap reaches $100 billion, much less $10, $100 or $500. For XRP to claim a $10 price, its market cap will spike to $568.1 billion. While this valuation is ambitious, it remains in the realm of possibility.

However, a price of $100 for XRP, as predicted by market commentator Levi Rietveld, would translate to a market cap of $5.6 trillion. Also, XRPH Head of Social Adoption Edoardo Farina suggested in June that XRP at $500 could be a bargain in the future. 

This $500 price would result in a $28.4 trillion market cap. Notably, this evaluation suggests that while the $10 price could be within reach for XRP, the more ambitious targets of $100 and $500 could prove highly difficult to clinch due to the amount of money required. However, nothing is certain in the market.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here