With gold recently becoming the first asset in the world to surpass a $30 trillion market cap, how much would XRP rise to if it ever attained this milestone?
While the crypto market has tumbled over the past few weeks, gold has held strong, essentially showing why many consider it a hedge against financial instabilities. Notably, the total crypto market cap dropped from a peak of $4.27 trillion on Oct. 6 to the current value of $3.59 trillion, having lost up to $680 billion within this period.
Gold Becomes First Asset to Hit a $30T Market Cap
This bearish turn of events comes on the back of tariff tension between China and the U.S., with the historical Oct. 10 crypto market crash also contributing to the losses. Meanwhile, gold has only shown strength, eventually reaching the $30 trillion milestone yesterday as its price per ounce claimed new all-time highs.
Specifically, gold hit a new peak of $4,330 per ounce on Oct. 16, pushing its market cap to $30.1 trillion. After a correction ensued, it gave up this level but eventually recovered to a new peak of $4,379 per ounce, which took its market cap to a new high of $30.45 trillion. Currently, gold has again relinquished the $30 trillion level, with its valuation sitting at $29.674 trillion.
Meanwhile, the XRP community has often compared gold to XRP, with some suggesting they share similar properties. For instance, last March, market commentator Zach Rector insisted that XRP was a commodity and a currency just like gold, citing comments from Ripple CTO David Schwartz.
XRP Price if It Reaches the $30T Cap Milestone
Moreover, some XRP proponents have even suggested that XRP could be trailing gold’s price action, a move that would see the altcoin soar to greater heights. Amid these discussions, we recently evaluated how high XRP could go if, trailing gold’s movements, it also hit the $30 trillion market cap milestone someday.
Currently, XRP changes hands at $2.35, with a market cap of around $141 billion, considering its current circulating supply of 59.97 billion tokens. At the current position, the XRP market represents only 0.004% of the gold valuation, suggesting that it has a long way to go before it catches up to the $30 trillion mark, if it ever does.
XRP’s market cap would have to grow by an audacious 21,176% to reach the $30 trillion level. Notably, if XRP ever soared to this level, the price per XRP could reach around $300, considering the total existing supply of 99.9 billion tokens at the time of reporting.
Interestingly, while this price appears extremely ambitious and unfeasible, some analysts have predicted that XRP could reach it. For instance, Whale Guru, a market commentator, projected that XRP could reach a price of $300 in “the next pump,” while Ethereum (ETH) may hit $25,000.
Notably, analysts at crypto resource Changelly also believe XRP could claim the $300 level, but not in this decade. According to Changelly, XRP could cross $300 by February 2040, about 15 years from now. They predict a minimum price of $381, with a maximum price of $452 for this timeline.
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.
