Data suggests XRP would need to command a market cap of up to $2.7 trillion to see its price skyrocket to the $50 territory.
XRP has not performed as admirably as most market participants expected following the July 2023 ruling that gave it full legal clarity as a non-security. The token pumped on the back of the ruling but eventually corrected the gains it picked up.
During the pre-bull run uptrend of Q4 2023, XRP failed to completely leverage the market surge, securing a meager gain of 19% from October to December 2023, while Bitcoin (BTC) rallied by as much as 57%. In addition, Ethereum (ETH) recorded a 36% upsurge.
Despite XRP’s underperformance, some market analysts have continued to project lofty price targets such as $50. Last December, analyst EGRAG forecasted that XRP could hit $10 or $50 depending on its trajectory. In November, crypto educator Jason claimed XRP clinching $50 is not a fantasy but a fact.
While most community members have dismissed the $50 projection as wishful thinking, others remain convinced that XRP has the potential to hit such a target. Media personality Zach Rector asserted last September that XRP could only hit ambitious targets such as $50 if there is a currency reset.
XRP Would Need a $2.7T Market Cap to Hit $50
However, in a recent disclosure, CryptoBanker, a pseudonymous crypto YouTuber and member of the Stronghold Token (SHX) community, shared insights into what XRP’s market cap would be should the token hit the $50 price target or a $500 value.
True, but if you do the math the ROI is clear:
✅ For $XRP to 100X you´re looking at $2.7 Trillion Market Cap
✅ For $SHX to 100X it needs $2BN Market Cap
✅ For $XRP to 1,000X you´re looking at $27 Trillion MC
✅ For $SHX to 1,000X it´s $20BN MCGiven @Ripple are Strategic…
— CryptoBanker $SH𝕏 (@CryptoBankerSHX) February 5, 2024
CryptoBanker’s remarks aimed to assess SHX’s price if the asset could capture even 1% of XRP’s market cap. The media personality stressed that XRP would need to surge by around 100x or 10,000% from its current value to reach a $50 price.
Notably, such a price jump would dramatically affect XRP’s market capitalization, which currently sits at $29.5 billion, per data from CoinMarketCap. XRP’s current market cap is 75% down from its peak market valuation of $120.5 billion in January 2018.
At the $120 billion market cap, XRP’s price hovered around the $3 territory. If the price of XRP ever surged to $50, its market cap would push to $2.72 trillion, supposing the asset’s circulating supply remains fairly stable at the 54.5 billion tokens mark.
It bears mentioning that CryptoBanker’s insights focused on SHX’s ability to capture 1% of this $2.72 trillion market cap to command a valuation of $27 billion. He cites the strong connection between the XRP Ledger and the Stronghold project as a factor that could drive this push.