XRP could similarly enter unprecedented price territories if Bitcoin attains the $1 million that Bernstein analysts anticipate.
XRP has been stuck in a holding pattern, lingering just shy of the $0.50 mark for days. As of now, XRP is trading at $0.486, reflecting a modest loss of 1.08% in the last 24 hours. However, over the past month, XRP has bled a more substantial 8.35% of its value.
This lackluster performance extends its year-over-year trend, with investors holding XRP at a 4.66% loss since 2023. Meanwhile, XRP is hoped to be among the beneficiaries of a buoyant crypto market in which the premier asset, Bitcoin, trades at a $1 million price point.
Bitcoin Reaching $1M
Market watchers at billion-dollar asset manager Bernstein are among the latest industry pundits to forecast a $1 million value for Bitcoin. Their recent analysis suggested that the premier crypto could attain this ambitious threshold within the next nine years.
Meanwhile, former Twitter CEO Jack Dorsey has voiced a more audacious timeline. During a podcast in May, Dorsey argued for a $1 million Bitcoin price within the next six years.
Notably, at a $1 million price, Bitcoin could command a market cap of $20 trillion. Given Bitcoin’s typical dominance of around 50%, this suggests that the overall cryptocurrency market, including leading altcoins like XRP, could reach a combined market cap of $20 trillion.
Essentially, XRP stands to benefit significantly from Bitcoin’s surge to $1 million. Accordingly, this raises the question of what XRP’s value might be in such a scenario.
XRP Price if Bitcoin Hits $1M
For Bitcoin to reach $1 million, it would need to increase by 1,456% from its current value of $64,246. If XRP experiences a similar percentage growth from its current price of $0.486, it would reach approximately $7.56.
Notably, altcoins are known for often outperforming Bitcoin, meaning XRP could potentially exceed this projected growth if Bitcoin follows such a trajectory.
Prominent crypto community analysts dispute that it could take more than six years for XRP to reach $7.56. Optimistic voices like analyst EGRAG and crypto founder Nick predict that XRP could surpass $10 by next year.
Some even argue that XRP might reach between $200 and $500 by 2030, though critics dismiss these projections as overly optimistic.
Disclaimer: 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’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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