XRP Price Could Double to $1 if Crypto Market Hits $5 Trillion, According to Ripple CEO Garlinghouse
In a bold prediction made back in April, Ripple CEO Garlinghouse suggested that the global crypto market cap could potentially 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 key factors that could drive this significant surge.
Speaking at this year’s Consensus conference, Garlinghouse reiterated his optimism about this projection, particularly in light of the growing crypto ETF market. This positive outlook has generated a wave of speculation surrounding the potential impact on various digital assets, including XRP.
Currently priced at $0.5113 with a market cap of $28.3 billion, XRP stands to benefit greatly if Garlinghouse’s prediction comes to fruition. With the total crypto market cap currently at $2.5 trillion, a doubling in value would present significant opportunities for XRP investors.
Assuming a direct proportionate increase in market cap, XRP could potentially see its valuation double to $56.6 billion if the overall market cap reaches $5 trillion. This would also lead to a corresponding increase in XRP’s price to around $1.022, signaling a potential uptrend in line with market analyst projections.
While some analysts believe that hitting $1 would only be the beginning for XRP, with projections ranging from $5 to a three-digit figure of $154, the potential for exponential growth in XRP’s market cap and market dominance is undeniable. If XRP were to reach $5, its market cap could rise to $276 billion, significantly boosting its dominance in the market.
It is important to note that these projections are speculative and should not be taken as financial advice. Readers are encouraged to conduct their own research before making any investment decisions. The views expressed in this article are solely the author’s and do not necessarily reflect those of The Crypto Basic.