XRP Could See Price Surge to $1 if Global Crypto Market Hits $5 Trillion, Predicts Ripple CEO
Ripple CEO, Garlinghouse, made a bold prediction back in April, suggesting that the global crypto market cap could skyrocket to $5 trillion by the end of the year. He pointed to macroeconomic trends and the influx of capital triggered by spot Bitcoin ETFs as potential catalysts for this surge.
Speaking at this year’s Consensus event, Garlinghouse reiterated his optimism about this projection, particularly in relation to the crypto ETF market. This positive outlook has sparked speculation about the potential impact on various cryptocurrencies, including XRP.
As of now, XRP is valued at $0.5113 with a market cap of $28.3 billion, while the total crypto market cap is at $2.5 trillion. If Garlinghouse’s prediction comes to fruition, the crypto market would double in value, creating significant opportunities for XRP.
Assuming a direct proportionate increase, if the market cap reaches $5 trillion, XRP’s market cap could rise to $56.6 billion, leading to a price surge to around $1.022. This projection suggests a potential doubling of XRP’s current value, aligning with the broader market’s expansion.
Some analysts believe that reaching $1 is just the beginning for XRP. World of Charts recently projected a price increase to $5, while CryptoBull identified a market structure that could push XRP to $154.
These lofty targets could significantly boost XRP’s market dominance, currently at 1.16%. If XRP reaches $5, its market cap could hit $276 billion, with a dominance of 5.3% if the overall crypto market cap remains at $5 trillion.
It is important to note that the content of this article is for informational purposes only and should not be taken as financial advice. Readers are advised to conduct their own research before making any investment decisions. The Crypto Basic does not take responsibility for any financial losses incurred.