XRP Price Could Hit $1 if Global Crypto Market Cap Reaches $5 Trillion, Says Ripple CEO Garlinghouse
Ripple CEO Garlinghouse previously made a bold prediction in April, suggesting that the global crypto market cap could reach $5 trillion by the end of the year. He pointed to macroeconomic trends and the influx of capital from spot Bitcoin ETFs as potential drivers for this exponential growth.
Speaking at this year’s Consensus, Garlinghouse reiterated his confidence in this forecast, particularly in relation to the crypto ETF market. This positive outlook has sparked speculation about how various cryptocurrencies, including XRP, could be affected.
Currently, XRP is trading at $0.5113 with a market cap of $28.3 billion, while the total crypto market cap stands at $2.5 trillion. If Garlinghouse’s prediction materializes, the market would double in value, presenting significant opportunities for XRP.
Assuming XRP’s market cap grows proportionally to the overall market, a $5 trillion market cap could see XRP’s market cap rise to $56.6 billion. This would lead to a price of $1.022 per XRP, reflecting a doubling of its current value.
Some analysts believe that reaching $1 is just the beginning for XRP. World of Charts recently projected a potential 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 were to reach $5, its market cap could hit $276 billion, with a dominance of 5.3% in a $5 trillion crypto market.
It is important to note that this content 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.