How much would the XRP price grow if XRP’s market cap appreciated by up to $1 trillion?
XRP has been the subject of discussions and speculations over the past few days, especially following the launch of its first pure spot-based ETF, the Canary Capital XRP ETF (XRPC). The product debuted with an impressive $58 million volume, boasting $245 million in net inflows.
XRP Down Despite Spot ETF Success
Despite the ETF’s impressive performance, XRP has declined considerably on the back of a broader market pullback. This pullback has pushed Bitcoin (BTC) below the pivotal $100,000 support. Amid the downtrend, which picked up on Nov. 11, XRP has lost $14.63 billion from its market cap, which has since collapsed to $137.12 billion.
Notably, a recovery effort from the broader market could help XRP’s prospects, possibly pushing its market cap to previous highs. For perspective, XRP’s all-time high market cap currently sits at $216.69 billion, which it attained on July 18, when the price reached a peak of $3.66.
With the current valuation of $137.12 billion, XRP has lost $79.57 since that market cap high. Meanwhile, amid suggestions of a possible recovery, we recently assessed how much the XRP price could be if it not only recovered this lost valuation but added $1 trillion more.
For context, Bitcoin is the only cryptocurrency that has ever crossed the $1 trillion market cap level. It first attained this level in February 2021, soaring to $1.3 trillion at the peak of the 2021 bull market. However, it lost the $1 trillion level as the bear market emerged, dropping to $297 billion in November 2022. Today, BTC has reclaimed the $1 trillion mark, with a current valuation of $1.92 trillion.
XRP Price if It Adds $1T to Its Market Cap
If XRP adds $1 trillion to its current market cap, its new valuation would sit at $1.137 trillion, still much lower than Bitcoin’s market cap. With 60 billion tokens currently in circulation, a valuation of $1.137 trillion would place the XRP price at a new all-time high of $18.95, edging toward the $19 region.
Interestingly, the $19 target has been a recurring theme within the XRP community. For instance, in August, market analyst Dr. Cat predicted that XRP could hit a price of $19 to $32 if the XRP/BTC ratio reclaims a range of 0.00007 to 0.00012 and Bitcoin itself claims a price of $270,000.
Meanwhile, analysts at crypto resource Changelly remain confident that XRP could claim the $19 price level. However, they do not expect the altcoin to attain this price until 2030. Specifically, Changelly analysts believe XRP could claim a maximum price of $19.62 by March 2030.
Notably, at the $1.137 trillion market cap, XRP would stand as the 14th largest asset by market cap globally, outpacing Berkshire Hathaway which has a current valuation of $1.098 trillion. Moreover, at this market cap, XRP would be larger than JPMorgan ($826 billion), Walmart ($817 billion), and Visa ($636.9 billion).
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.
