XRP Price Could Surge to $1 if Global Crypto Market Hits $5 Trillion, Predicts Ripple CEO Garlinghouse
Ripple CEO Garlinghouse made a bold prediction in April, suggesting that the global crypto market cap could reach $5 trillion by the end of the year. He attributed this potential surge to macroeconomic trends and the influx of capital brought on by the introduction of spot Bitcoin ETFs.
Speaking at this year’s Consensus event, Garlinghouse reiterated his optimism regarding this forecast, particularly in relation to the crypto ETF market. This positive outlook has sparked speculation about the potential impact on various cryptocurrencies, including XRP.
XRP Price Potential with a $5 Trillion Crypto Market Cap
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 a doubling effect in the market from $2.5 trillion to $5 trillion, XRP’s market cap could also double to $56.6 billion. With a circulating supply of 55.35 billion tokens, this would potentially push XRP’s price to $1.022, representing a considerable increase from its current value.
Potential for Higher XRP Price Targets
Some market analysts believe that XRP reaching $1 could just be the beginning of its upward trajectory. World of Charts predicted a potential increase to $5, while CryptoBull identified a market structure that could push XRP to a high of $154.
These ambitious targets could significantly boost XRP’s market cap, potentially increasing its dominance in the market. If XRP were to reach $5, its market cap could soar to $276 billion, with a dominance of 5.3% in a $5 trillion crypto market.
Disclaimer: This article serves as informational content and should not be taken as financial advice. The opinions expressed are those of the author and do not necessarily reflect The Crypto Basic’s views. Readers are advised to conduct thorough research before making any investment decisions, as The Crypto Basic is not liable for any financial losses.