Here’s the Potential XRP Price If It Captures 40% of the Crypto Market

XRP price could soar to greater heights if XRP dominance surpasses its all-time high to reach the 40% region.

XRP, which was once the second dominant crypto asset by a large mile, has since relinquished its position. For context, from October 2014, two years after the XRP Ledger launched, XRP overtook Litecoin (LTC) to become the second-largest crypto asset.

XRP Dominance Has Witnessed a Rollercoaster Ride

It mostly maintained this position until early 2016, when it began to battle Ethereum (ETH) for the spot. Meanwhile, data from TradingView indicates that XRP dominance soared from 2014 to 2015, rising from 0.35% in July 2014 to a peak of 20.69% by January 2015. This occurred as XRP became the second-largest crypto asset.

However, during the battle with Ethereum for the second spot, the XRP dominance saw gradual declines. Specifically, dominance collapsed to a low of 0.95% by March 2017, especially as XRP underperformed at the start of the 2017 bull run, pushing it lower the top 10 rankings.

Interestingly, XRP’s dominance recovered from March 2017 as XRP observed its historic run. Dominance soared to a new high of 31.33% amid the XRP rally to $3.8. This 31.33% marked the peak dominance for XRP, and since then, the metric saw intermittent declines until it hit 1.21% in early November 2024.

Current Market Position

Now, with the XRP price rebounding beyond the $0.5 on the back of the U.S. elections last November, XRP dominance soared to a four-year peak of 5.58% by January. Despite a drop alongside XRP’s price pullback to the $2 lows, dominance currently sits at 3.97%. 

However, some XRP market commentators believe XRP dominance could soar beyond the 31.33% peak to reach a new all-time high of 40%. Before this can happen, XRP would need to capture a lot of the market share from Ethereum and Bitcoin.

For context, Bitcoin dominance currently sits at 64.15%, the largest for any single crypto asset. Meanwhile, Ethereum dominance stands at 9.71%, the second largest. At these dominance figures, Bitcoin has a market cap of $314.5 billion, while Bitcoin boasts a valuation of $2.08 trillion.

XRP Price if XRP Dominance Soars to 40%

With its 3.97% market dominance, XRP has a market cap of $128.51 billion. However, should it claim 40% dominance, its market cap would soar tremendously. Specifically, with the global crypto market boasting a market cap of $3.24 trillion, a 40% dominance would place XRP’s valuation at $1.296 trillion.

Meanwhile, XRP currently has a circulating supply of about 58.75 billion tokens. Considering this supply, a $1.296 trillion market cap translates to a price of $22.06 per XRP. Notably, market pundits like Oscar Ramos have projected that XRP could hit $22 with a $1 trillion market cap.

However, while an XRP rally to $22 is highly feasible, capturing 40% of the crypto market might be challenging. As a result, if XRP maintains its market dominance while the broader crypto market expands considerably, XRP could reach the $22 price without having to capture 40% of the market.

For context, for XRP to hold a $1.296 trillion market cap and a $22 price while at 3.97% dominance, the broader crypto market needs to expand to $32.65 trillion. Interestingly, a July 2023 Forbes report projected that crypto ETFs could inject $30 trillion in capital into the crypto market.