XRP Price Could Reach $1 with $5 Trillion Crypto Market Cap, According to Ripple CEO
Ripple CEO Brad Garlinghouse previously made a prediction that the global crypto market cap could hit $5 trillion by the end of this year. He pointed to macroeconomic trends and the influx of capital from spot Bitcoin ETFs as factors that could drive this significant surge.
During this year’s Consensus event, Garlinghouse reiterated his optimism about this forecast, particularly in relation to the crypto ETF market. This positive outlook has sparked speculation about how various cryptocurrencies, including XRP, could be impacted.
Currently, XRP is trading 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 materializes, the crypto market would double in value, presenting opportunities for XRP.
Based on the current market cap of $2.5 trillion and the projected $5 trillion target, there could be a 100% increase. If XRP’s market cap follows suit and doubles to $56.6 billion, its price would rise to $1.022. This assumes that XRP’s market cap grows proportionally to the overall market.
If XRP’s market cap reaches $56.6 billion and its circulating supply remains stable at 55.35 billion tokens, its price could also increase to $1.022. While this falls slightly below some analysts’ projections, it still represents a significant surge for XRP.
Some analysts believe that XRP hitting $1 is just the beginning of its potential uptrend. World of Charts recently projected a price increase to $5, while CryptoBull identified a market structure that could push XRP to $154.
These ambitious targets could significantly boost XRP’s market dominance, which currently stands at 1.16%. If XRP reaches $5 with a market cap of $276 billion, its dominance would rise to 5.3% in a $5 trillion crypto market.
It’s important to note that this content is for informational purposes and not financial advice. Readers should conduct their own research before making investment decisions. The views expressed in this article are the author’s own and do not necessarily reflect The Crypto Basic’s opinions. The Crypto Basic holds no responsibility for any financial losses incurred.