If XRP’s market cap approaches the $100 billion level, it could lock in a higher price level, but most remain uncertain about the impact such a milestone will have on price.
Notably, XRP was at one point the second-largest cryptocurrency on the market after Bitcoin (BTC). The altcoin battled with Ethereum (ETH) for this spot for several years, but ultimately succumbed to bearish pressure, thanks in part to contributions from the ongoing SEC litigation.
Historical market capitalization movement of XRP
XRP’s best performance came during the 2017 bull market, which had a significant impact on market capitalization. This helped propel the company to the top two spots in the market. For example, from May to November 2017, XRP’s market valuation ranged from $1.8 billion to $10 billion.
However, as the price soared in December of that year, XRP’s market cap soared to a record $95 billion. With this figure, XRP’s market power rose to 16.36%, making it the second largest cryptocurrency. For context, within this period, Ethereum’s peak market power was 15.08%.
Interestingly, the following month, XRP’s market capitalization soared even higher, surpassing the $100 billion mark for the first time in history. Altcoin valuation reached $128.49 billion. This market height was reached in January 2018 when the price rose to an all-time high of $3.317. At this point, there were approximately 38.7 billion XRP tokens in circulation.
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With XRP freed from legal pressure from the Ripple vs. SEC lawsuit, multiple market watchers are predicting ambitious targets, with bold targets like $27 and $200+ rising to prominence. On the other hand, most skeptics who doubt the feasibility of such a price target point to the possibility that XRP’s market capitalization will rise as a result.
With a market cap of $100 billion, XRP could reach $10, $100, or $500
Notably, XRP’s highest valuation was $128.49 billion, suggesting it is well capable of recovering this level. But at today’s market capitalization, what would that price be?
For context, XRP currently has a circulating supply of 56.8 billion tokens, an increase of 18.1 billion tokens since January 2018, primarily due to Ripple’s regular escrow releases. With a supply of 56.8 billion tokens, a $100 billion valuation translates to a price of $1.76 per XRP, well below the ATH.
On the other hand, if XRP regains its highest market valuation of $128.49 billion, its price would rise to $2.26, but it would still be below its all-time high. This drop in prices is due to the inflation that has plagued the market for the past seven years.
This valuation confirms that even if the market cap reaches $100 billion, XRP will never even reach its all-time highs, let alone $10, $100, or $500. For XRP to claim a price of $10, its market cap would jump to $568.1 billion. While this valuation is ambitious, it remains within the realm of possibility.
However, if XRP were to sell at $100, as market commentator Levi Rietveld predicted, it would have a market capitalization of $5.6 trillion. Edoardo Farina, head of social recruitment at XRPH, also suggested in June that $500 XRP could be a bargain in the future.
This $500 price translates into a market capitalization of $28.4 trillion. Notably, this valuation means that while the $10 price may be within reach for XRP, the more ambitious goals of $100 and $500 are extremely difficult to acquire due to the amount required. This suggests that it may be difficult to But nothing is certain in the market.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. We encourage our readers to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
