XRP Price Could Surpass $1 if Market Cap Reaches $5 Trillion

XRP Technical Analysis: Insights from Market Expert

Ripple CEO Brad Garlinghouse predicts the global crypto market cap could surge to $5 trillion by the end of this year, driven by macroeconomic trends and capital influx from spot Bitcoin ETFs. His recent reaffirmation of this projection at this year’s Consensus has fueled speculation about its impact on various cryptocurrencies, including XRP.

XRP Price Projections With a $5 Trillion Market Cap

Currently, XRP is priced at $0.5113 with a market cap of $28.3 billion. The total crypto market cap stands at $2.5 trillion. If Garlinghouse’s prediction materializes, the market cap would double, presenting significant opportunities for XRP. Consequently, a 100% increase in the crypto market cap would likely result in a proportional rise for XRP. 

Related article: XRP to Skyrocket 500% According to Crypto Analyst: Here’s Why

This would elevate XRP’s market cap to $56.6 billion, assuming the overall market value doubles. If XRP’s market cap climbs to $56.6 billion, its price could also rise proportionally, provided the circulating supply remains stable at 55.35 billion tokens. This scenario would bring XRP’s price to approximately $1.022. Thus, if the global crypto market cap hits $5 trillion, XRP’s market cap could grow to $56.6 billion, and its price might climb to around $1.022, reflecting a potential doubling of its current value.

Related article: XRP Set for Significant Rally: Analyst Highlights Key Bullish Pattern

Loftier Projections For XRP

However, some analysts believe reaching $1 would only mark the beginning of XRP’s uptrend. Last month, World of Charts projected XRP could soon increase to $5. Similarly, CryptoBull identified a market structure that could push XRP to a three-digit figure of $154. If XRP achieves a $5 price, its market cap could reach $276 billion, boosting its market dominance. 

Currently, XRP’s market dominance stands at 1.16%, down from its peak of 31.33% in May 2017. At $276 billion, XRP’s dominance would be 5.3% if the crypto market cap is $5 trillion.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

Share this :