XRP capturing an extra 1% of the crypto market’s $1.56 trillion could reward holders with a 55% gain.
XRP exchanges hands between crypto market participants at a meager $0.5144 per coin. This figure marks a 6.16% downturn from its recent seven-day peak of $0.5547.
With this market value, XRP ranks as the sixth most valuable cryptocurrency, boasting a market share of $27.93 billion of the global crypto market of $1.56 trillion. To put it in perspective, XRP’s valuation implies it commands a merely 1.790% share of the overall crypto market.
Consequently, a thought-provoking question arises regarding XRP’s value should it acquire an additional 1% of the $1.56 trillion crypto market.
XRP Price if it Captures Extra 1% of $1.56 Trillion
Notably, a 1% share of $1.56 trillion amounts to $15.6 billion. Effectively, with XRP’s valuation at $27.93 billion, the 1% gain would elevate XRP’s market share to a pricey $43.53 billion. This figure is akin to the current market valuation of BNB, which trades at $297.
However, given XRP’s considerably larger circulating supply, it is improbable for the asset to trade realistically at a comparable value per unit. Instead, XRP’s value would be $0.8006, considering a circulating supply of 54,374,512,255.
Interestingly, a surge from the current market value of $0.5144 to $0.80 would reward XRP holders with a 55.52% return on investment.
Notably, XRP last saw the $0.8 threshold in July 2023. The value emerged riding on the frenzy that followed the asset securing legal clarity from the United States court. Before this date, XRP had last reached $0.8 in 2022.
Meanwhile, other XRP rivals engineered bullish trajectories in late 2023 that saw their values gaining more than 55%. This remarkable growth was observed in cryptocurrencies such as Cardano (ADA), Solana (SOL), and Avalanche (AVAX).
However, XRP’s value remained relatively stable throughout the same period, exhibiting less pronounced positive fluctuations compared to its counterparts.
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