Renowned pro-crypto attorney John Deaton has expressed confidence that XRP is on track to reach the ambitious $100 billion market cap milestone.
Deaton shared this view in a tweet earlier today, amidst XRP’s impressive price performance. Notably, XRP surged by 30% today and is currently trading at $1.43.
In light of this impressive price action, industry figures like Deaton have marveled at XRP’s growth. He expressed that XRP could soon achieve a $100 billion market cap at its current pace. “Times are changing,” he said. Other community figures, including attorney Bill Morgan, have echoed similar optimism.
XRP soon will achieve a $100B market cap. Times are changing.
— John E Deaton (@JohnEDeaton1) November 22, 2024
XRP Price with $100B Market Cap
At its current price, XRP has a market cap of approximately $80 billion, with a fully diluted market cap of $140 billion. Notably, as of November 10, XRP had a valuation of $33.5 billion when trading at $0.5903, meaning the asset has nearly tripled in value in less than two weeks.
To reach a $100 billion market cap, XRP only needs to add another $20 billion, which now seems within reach given the asset’s strong bullish momentum.
Remarkably, a $100 billion valuation would correspond to an XRP price of $1.756, which is still below its 2021 peak. When XRP reached $1.96 on April 14, 2021, it had a market cap of $83.5 billion. Despite the higher price, the market cap was below $100 billion at the time due to a smaller circulating supply of XRP.
Meanwhile, it is worth mentioning that XRP has reached a $100 billion valuation at one point in its history, specifically between January 2 and 8, 2018. During this period, XRP traded at all-time highs in the $3 range. At the time, XRP briefly surpassed Ethereum in market valuation.
XRP Among Top Performers
Notably, with the latest market conditions, among the top crypto assets, none have experienced a spike similar to XRP’s dramatic rise in the past 24 hours. XRP staged this rally while Bitcoin broke through the $99,300 mark, just shy of the widely anticipated $100K level.
The $1.43 price point is one of the highest XRP has reached in three years, last seen during the peak of the 2021 bull cycle. This climb comes after a five-day consolidation period following the $1.26 level XRP hit last weekend. XRP has now resumed its bull run and is on track to surpass its 2021 cycle peak of $1.96.
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.
