XRP’s potential for a significant price surge is being discussed, with some experts suggesting that if its market cap reaches the same level as Tesla, XRP could reach a two-digit value. However, XRP has been underperforming in the market, failing to surpass its previous peak of $3.31. While other cryptocurrencies have experienced new all-time highs, XRP has struggled to regain momentum.
The inability of XRP to reach its previous highs has resulted in a lower market cap compared to other cryptocurrencies. Despite initially competing with Ethereum for the second spot in terms of market cap, XRP now sits at seventh place with a market cap of $28.6 billion, while Ethereum’s market cap is $300 billion.
Despite this underperformance, some experts believe that XRP could make a comeback. They draw a comparison between XRP and Tesla, suggesting that selling XRP at its current price level is similar to selling Tesla stock when it traded for $2.50. However, it is worth noting that XRP has actually performed better than Tesla over a 10-year period, with a $100 investment in XRP in August 2013 yielding $9,222 compared to Tesla’s yield of $2,189 within the same timeframe.
While Tesla’s growth has been remarkable, with a current stock price of $200.64 and a market cap of $640.97 billion, XRP’s market cap is significantly lower at $28.6 billion. However, if XRP were to achieve Tesla’s market cap, its price would soar to $11.44, representing a 2,145% increase from its current price of $0.5094.
It is important to note that this information is for informational purposes only and should not be considered 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.