XRP’s price has the potential to soar by an astonishing 2,893%, reaching a new all-time high if its market capitalization achieves the $1 trillion mark.
The cryptocurrency landscape has experienced remarkable expansion since Bitcoin (BTC) debuted in January 2009. This growth is primarily attributed to the impressive upward trajectory of Bitcoin and various other cryptocurrencies over the years.
### XRP Market Cap Stagnation
While several assets celebrated significant gains during the previous bull market, altcoins such as XRP struggled to make similar strides. During the 2017/2018 bull run, XRP’s market cap peaked at an impressive $119.82 billion in January 2018, coinciding with its price hitting an all-time high of $3.31.
In the 2021 bull run, XRP appeared poised to surpass its previous peak valuation. However, it only managed to reach a market cap of $73.35 billion in April 2021, with its price encountering resistance at $1.96. Even during the height of the 2021 bull cycle from October to November, XRP’s market cap remained below $60 billion.
Market analysts often attribute this underperformance to the SEC’s lawsuit against Ripple, initiated in December 2020. With XRP now classified as a non-security and the lawsuit nearing its conclusion, industry experts anticipate a resurgence in XRP’s market cap in the current bull season.
### XRP’s Price Potential with a $1 Trillion Market Cap
Earlier this year, Chase, the host of the Bitcoin Express YouTube channel, explored XRP’s potential to match Bitcoin’s market cap of $1 trillion. At the time, Bitcoin’s valuation was approximately $1.02 trillion. Chase’s remarks aimed to challenge forecasts suggesting that XRP could reach prices of $100, $589, or even $1,000.
In contrast, the Common Sense Crypto account has consistently argued that XRP could indeed hit the $100 mark. Additionally, former U.S. Congressional candidate David Gokhshtein previously advocated for an XRP rally to $589, while commentator Amelie supported the idea of XRP surging to $1,000.
Chase, while skeptical of these lofty predictions, indicated that the possibility of XRP achieving a $1 trillion market cap is within reach, especially if the cryptocurrency experiences explosive growth in the ongoing bull market.
Currently, XRP has a circulating supply of 55.96 billion tokens, with an inflation rate of 200 million tokens per month. If XRP’s market cap were to reach $1 trillion, the price would rise to approximately $17.86, representing a staggering 2,893% increase from its current price of $0.5966.
Several crypto trading analysts foresee XRP reaching the $17 price point. Last month, market expert TradingShot confidently stated that XRP is far from finished, predicting a price surge beyond $17. Furthermore, analyst EGRAG indicated earlier this month that XRP is on the brink of a rally towards $17.
### Disclaimer
This article is intended for informational purposes only and should not be construed as financial advice. The opinions expressed herein may reflect the author’s personal views and do not necessarily represent the position of The Crypto Basic. Readers are encouraged to conduct their own research before making any investment decisions. The Crypto Basic bears no responsibility for any financial losses incurred.