XRP’s price could surge by up to 2,893%, reaching a new all-time high if its market cap hits the $1 trillion mark. Since Bitcoin’s introduction in January 2009, the cryptocurrency market has experienced exponential growth. This surge is attributed to the consistent growth rates of Bitcoin and other cryptocurrencies over the years. However, XRP’s market cap has faced challenges, limiting its growth potential.
Challenges and Opportunities for XRP
During the 2017/2018 bull run, XRP’s market cap peaked at an impressive $119.82 billion in January 2018, coinciding with its all-time high price of $3.31. XRP was poised to surpass this valuation during the 2021 bull run, but its market cap only reached $73.35 billion in April 2021, with its price facing resistance at $1.96. Even during the peak of the 2021 bull run, XRP’s valuation couldn’t exceed $60 billion.
Many analysts attribute XRP’s underperformance to the SEC’s lawsuit against Ripple, initiated in December 2020. Now, with XRP declared a non-security and the lawsuit nearing resolution, industry experts anticipate that XRP’s market cap could achieve new heights in the upcoming bull season.
XRP’s Path to a $1 Trillion Market Cap
Earlier this year, Chase, the host of the Bitcoin Express YouTube channel, explored the possibility of XRP reaching a $1 trillion market cap, akin to Bitcoin’s previous market valuation of $1.02 trillion. Chase’s analysis aimed to dispel predictions of XRP reaching exorbitant price levels such as $100, $589, or even $1,000. Despite some predictions, Chase believes these figures are unrealistic. However, he acknowledges the potential for XRP to achieve a $1 trillion market cap if it experiences substantial growth during the ongoing bull run.
With a circulating supply of 55.96 billion tokens and an inflation rate of 200 million per month, XRP’s price would reach $17.86 if its market cap grew to $1 trillion. This represents a remarkable 2,893% increase from its current price of $0.5966.
Numerous crypto trading experts have predicted XRP’s potential surge to the $17 price level. Last month, TradingShot projected a price spike above $17, affirming that XRP is far from dead. Additionally, analyst EGRAG recently predicted that XRP is on the cusp of a rally to $17.
Disclaimer: This content is for informational purposes only and should not be considered financial advice. The views expressed here are personal opinions and do not necessarily reflect those of The Crypto Basic. Readers should conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
