As an analyst with over two decades of experience in the financial markets, I’ve seen many ups and downs, bubbles, and bursts. However, the potential growth of XRP is something that has piqued my interest once again.
The well-known digital currency XRP is almost reaching an impressive achievement – its value has been increasing significantly to get close to a $100 billion market cap. Reaching this milestone isn’t something new for XRP, but it hasn’t had a market capitalization of 12 digits since the year 2018.
6 years ago, the price of XRP peaked at $3.13 per token and had a market cap of $120.76 billion, as reported by CoinMarketCap. Notably, the current price of XRP is $1.66 per token, a level it reached in May 2021. However, its maximum capitalization during that time was only $70.65 billion.
Initially, the quantity of XRP tokens in circulation was significantly lower due to the tokenomics of XRP, with about 55% of the total 99 billion tokens being held in escrow accounts by Ripple. As these tokens are released monthly, the circulating supply has grown to approximately 57.05 billion XRP today. This increased circulation gives XRP a market capitalization of around $25 billion more at comparable prices from 2021.
To hit a value of $100 billion for XRP, it only requires a 2.65% increase to reach about $1.75. This doesn’t seem too challenging or unrealistic.
As a researcher studying the cryptosphere, I find it intriguing that surpassing the $100 billion market cap for XRP isn’t about shifting its position among the leading cryptocurrencies, but rather about solidifying its status as a more recognized player within the investment community. For those less immersed in the crypto market, this milestone serves as a powerful endorsement, making XRP appear more established and credible. In essence, reaching $100 billion could function as self-advertisement, drawing in new investors who might find its standing more appealing.
It’s worth noting that, under this assumption, XRP would rank as the 170th largest global entity in terms of size among the world’s largest companies.
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2024-11-29 15:04