Here’s XRP Price if XRP is Able To Reach Silver’s Worth

The XRP price has the potential to cross the $40 psychological level if XRP ever matches the market worth of silver.

Notably, XRP has continued to struggle at the $3 price level since the start of October, unable to decisively surpass the region but persistently defending the support at $2.98. Amid this power tussle between the bears and bulls, XRP’s market cap has continuously fluctuated between $176 billion and $185 billion this month.

XRP’s Market Cap Struggles

XRP’s next market cap target rests on the $190 billion mark, where it collapsed from on Sept. 13 when it dropped from a price of $3.18. Meanwhile, beyond the $190 billion mark, XRP’s market cap eyes the $200 billion milestone, a level it attained in mid-July.

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Specifically, XRP’s valuation reached an all-time peak of $216.69 billion on July 18, coinciding with an all-time high price of $3.66 that day. After this, XRP price slumped and so did its market valuation. By July 24, the market cap had dropped below $200 billion, and XRP has failed to surpass the milestone since, besides a mild retest on Aug. 8. 

Could XRP Become Digital Silver?

If XRP again surpasses the $200 billion mark, it could start targeting higher levels, a journey that would be immensely beneficial to its price. Interestingly, market participant Diep Sanh found in August 2020 that XRP was mirroring silver’s price movements from 2005 before the precious metal’s parabolic surge.

Interesting!!!

XRP’s price movement is so similar to that of Silver in the past.

XRP now is like silver in 2005 before the next huge parabolic surge. pic.twitter.com/I0sgVXhguU

— BD (@DiepSanh) August 8, 2020

Additionally, others have suggested that if Bitcoin is digital gold, then XRP itself is digital silver. Considering these mentions, our latest report explored the prospect of XRP targeting the valuation of silver, the second most valuable precious metal on earth.

For context, silver has a market cap of $2.725 trillion, making it the sixth-largest asset by valuation. The precious metal also ranks above Bitcoin (BTC), the original cryptocurrency, in terms of market cap. However, what if XRP, touted as digital silver, matched silver’s market cap?

XRP Price if It Matches Silver’s Market Cap

Considering its current valuation of $179.03 billion, XRP’s market cap would need to grow by a massive 1,421% to reach silver’s $2.725 trillion worth. At such a market cap, the price of 1 XRP will have soared to $45.41 with XRP’s current circulating supply of around 60 billion tokens. 

To put things into perspective, a market participant who commits $10,000 into XRP today would procure 3,355 tokens at the current XRP price of $2.98. However, should XRP hit silver’s market cap with the price soaring to $45.41, the worth of these 3,355 tokens would grow to around $152,000, presenting gains of over $142,000.

While the potential sounds enticing, the prospect of XRP matching silver’s market cap remains ambitious at press time. There is no guarantee that XRP will ever hit this milestone. Also, in such a scenario, Bitcoin, which remains the crypto market leader, could also have a worth of about $37.8 trillion.