XRP price would be well above its 2018 all-time high if its market cap were to increase fivefold or tenfold from its current standing.
XRP, the third-largest cryptocurrency by market cap, stunned the market when it rallied a staggering 580% from its opening price of $0.50 in November to a multi-year peak price of $3.40 in January.
However, its prices have been in an accumulation mode since then, declining 35.5% from the January high. Yesterday, XRP joined another broader market retraction, dumping 2.36% in the past 24 hours to trade at $2.19.
Nonetheless, optimism around the XRP ecosystem remains largely bullish. Market watchers are optimistic that the XRPL native token will overcome recent bearish momentum and replicate its success in late 2024.
XRP’s Price On a 5x and 10x Market Cap Rally
At the current valuation of $129 billion, a fivefold rally in the XRP market cap would result in an aggregate of $645 billion. Interestingly, this is more than double Ethereum’s current $315 billion cap.
For a tenfold uptick, XRP’s market cap would hypothetically break the $1 trillion threshold to $1.29 trillion. While impressive, it still falls below Bitcoin’s $2 trillion valuation at press time.
Meanwhile, an XRP market cap multiplier has projected XRP’s price on a 5x and 10x upsurge, assuming there is no change in the current circulating supply. The chart highlighted the prices from a 1x to 10x market cap multiplication.
As shown, a fivefold market cap would take XRP’s price to approximately $11, a new all-time high and an impressive 402% uptick from its current price. However, a tenfold market cap would see XRP trade at $22 per coin, representing a 904.5% increase from its current value.
Possible Timeline for XRP at $11 and $22
Notably, several analyses support a possible XRP rally to $11 and $22. For instance, seasoned market analyst Egrag Crypto predicted that the token would reach $11, citing a potential explosion from a gamma ray burst (GRB). He even projected higher prices, like $33 and $220.
Ramos also believes that a $22 XRP price and a $1 trillion market cap are feasible during this bull cycle. In his analysis, he cited bullish catalysts like Ripple’s widespread adoption, impending XRP ETF approval, and the RLUSD launch.
Meanwhile, an XRP price projection from Changelly forecasts an average price of $11 per XRP by June 2029 and $22 by April 2031. However, Telegaon predicted a closer timeframe of 2027 for $11 and 2029 for $22.
Case for an XRP 5x and 10x Market Cap Rally
The positive sentiments surrounding XRP come from several factors, including regulatory clarity, bullish ecosystem developments, and a broader market bullish reversal. For instance, the almost-concluding case between Ripple and the US SEC has seen the ecosystem ward off a major impediment to institutional traction.
Interestingly, this has been the case as prominent market players are beginning to adopt XRP. Investment vehicles tracking XRP’s performance have recently launched as institutional and retail demand for the asset increases, while some, like spot ETFs, are still awaiting regulatory approval.
Furthermore, corporate firms have also started adopting an XRP treasury strategy. Messari, a top market research and intelligence platform, highlighted this bullish development in a recent report. Three prominent firms have announced plans to establish an XRP corporate treasury within a month, indicating a growing recognition of the asset’s value.
As a result, market watchers expect these bullish developments to impact XRP’s valuation, making a case for a five to tenfold rally in XRP’s market cap.
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.
