[ccpw id="39382"]

HomeCrypto NewsMarketHere is XRP Price if Its Monthly Trading Volume Hits $1T

Here is XRP Price if Its Monthly Trading Volume Hits $1T

Date:

Follow TheCryptoBasic

XRP could potentially be trading at a new all-time high in the hypothetical scenario where it attains a $1 trillion monthly trading volume.

XRP is among the most heavily traded crypto assets in the market, garnering an average daily volume of around $1 billion. On Friday, June 5, XRP recorded a massive trading of over $2.15 billion amid the landslide crash to $0.3911, its lowest price in over 12 months. 

Meanwhile, XRP has mildly recovered from this bottom at press time, trading above $0.42 with a volume of approximately $740 million.

- Advertisement -

This article explores the hypothetical scenario regarding XRP’s potential market value if the asset experiences a monthly trading volume of around $1 trillion. Given the speculative nature of this assessment, The Crypto Basic utilized estimations from OpenAI’s ChatGPT to determine XRP’s likely value with a $1 trillion monthly volume.

XRP Price if Its Monthly Trading Volume Hits $1T

First, the AI proposed a scenario where XRP maintains a $2 billion daily trading volume for a month, resulting in an estimated $60 billion of XRP traded monthly. Assuming XRP currently has a monthly volume of $60 billion, a speculative increase to $1 trillion implies an advancement of 1,566% or a growth factor of 16.67.

Accordingly, ChatGPT noted that with XRP trading at $0.42, its market value could rise to around $7, assuming a proportional relationship between trading volume and price. Meanwhile, it stressed that this is a speculative estimation as actual prices depend on various market factors, including demand, investor sentiment, and overall market conditions.

XRP ChatGPT
XRP price estimation by ChatGPT

What $1 Trillion Volume Means for XRP

Notably, at a $7 price, a $1 trillion monthly volume for XRP means market participants would exchange over 142.86 billion XRP monthly, equivalent to 4.761 billion tokens in daily volume. This daily volume would be worth over $33.33 billion, considering the theoretical $7 price point.

Currently, XRP is seeing a volume of $740 million at a $0.42 price. During a significant buying frenzy between late December 2017 and the first week of 2018, the asset posted volumes of $6 billion to $8 billion on some days. 

- Advertisement -

Specifically, on January 4, 2018, when XRP traded at its all-time high of $3.84, it recorded a volume of $8.1 billion. This suggests a correlation between high trading volume and high market value.

How Far is XRP from $1 Trillion Volume?

It is worth noting that the stablecoin Tether USD (USDT) is currently the only crypto asset that witnesses a trillion-dollar monthly volume. According to CoinMarketCap, USDT has registered a cumulative 30-day trading volume of $1.34 trillion. This high figure results from USDT being paired and traded against virtually all assets in the crypto market.

XRP ChatGPT
Crypto assets volume | CoinMarketCap

Bitcoin, which closely follows, reported a 30-day trading volume of $535 billion. In contrast, XRP is far behind, with a trading volume over the last 30 days of $22.65 billion.

DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Author

Abdulkarim Abdulwahab
Abdulkarim Abdulwahabhttp://thecryptobasic.com
Abdulkarim Abdulwahab is a seasoned crypto journalist who has established himself as a trusted voice in the world of blockchain and Web3. His extensive knowledge of the crypto space enables him to break down complex concepts into accessible language.

More from Author

Latest Stories

Guides