XRP’s Price Outlook if Global Crypto Market Reaches $5 Trillion
Ripple CEO Garlinghouse has made a bold prediction that XRP’s price could potentially surpass the $1 mark if the global crypto market cap hits $5 trillion. Earlier this year, Garlinghouse forecasted that the overall crypto market cap could skyrocket to $5 trillion by the end of the year, fueled by macroeconomic trends and the influx of capital from spot Bitcoin ETFs.
During a recent appearance at Consensus, Garlinghouse reiterated his positive outlook on the crypto ETF market, further fueling speculation on the potential impact on various cryptocurrencies, including XRP.
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 see a doubling in value, presenting significant opportunities for XRP.
Assuming a direct proportionate increase in XRP’s market cap, a surge to $56.6 billion would push its price to $1.022, below the projections of some market analysts. However, some experts believe that reaching $1 is just the beginning for XRP, with projections ranging from $5 to a three-digit figure of $154.
These lofty targets could potentially boost XRP’s market dominance, currently at 1.16%, significantly. If XRP were to hit $5, its market cap could reach $276 billion, representing 5.3% of the overall crypto market cap at $5 trillion.
It’s important to note that these projections are speculative and should not be considered financial advice. Readers are advised to conduct their own research before making any investment decisions.