thecryptobasic.com
$XRP price could skyrocket to a two-digit value of $23 if it reaches the market cap of Bitcoin (BTC), the largest cryptocurrency by market valuation.
The broader crypto market downturn has impacted $XRP more severely than most other crypto assets. Notably, this impact is observed in a sustained price suppression that has hindered $XRP from surging as much as other tokens during a market uptrend.
$XRP Turbulence Impacts Its Market Cap
Specifically, $XRP is only up 1.48% since the first phase of the ongoing bull market commenced in October 2023. Meanwhile, Bitcoin has recorded a 148% increase, with Ethereum (ETH) and Solana (SOL) respectively seeing gains of 87% and 733% within the same timeframe.
$XRP’s underperformance has directly impacted its market cap, leading to its displacement on the top 10 ranking by Solana last December. Solana now boasts a valuation of $78 billion, making it the fifth largest asset by market cap. However, $XRP’s market cap sits at $29 billion, ranking it seventh, immediately below USDC.
Despite $XRP’s unfavorable performance, several market analysts expect it to impress as the bull market progresses. Most of these analysts cite historical context for their projections, as $XRP exhibited a similar dull movement at the start of the 2017 bull run before eventually skyrocketing by more than 48,823%.
Nonetheless, some of the $XRP price predictions from analysts have been summarily dismissed as wishful thinking by industry commentators. For instance, some assert that $XRP could reach $10,000. Also, analyst EGRAG recently predicted $XRP to clinch a $33 price, citing historical context.
$XRP Price if It Reaches Bitcoin Market Cap
The argument against most of these predictions is $XRP’s market cap if it ever reaches them. At a $10,000 price, $XRP would have a market cap of $550 trillion, making it by far the largest asset in the world. There is not enough money to sustain this market valuation.
As a result, we assessed what $XRP price can realistically spike to if it captures a market cap already proven feasible in the crypto industry. With Bitcoin being the largest crypto asset, its valuation represents the highest feasible one for any cryptocurrency, currently standing at $1.32 trillion.
At this point, Bitcoin is 45.56x above $XRP in market capitalization. Data confirms that if $XRP captures this $1.32 trillion market valuation, its price per unit would skyrocket to $23.91, marking a double-digit figure, and a 622% increase from the current all-time high of $3.31.
Multiple analysts argue that this price is completely feasible for $XRP. In March, EGRAG contented that $XRP could surge to $27. Last year, market analyst Permabull predicted $XRP to hit $23.8 by June. However, this projection failed to materialize. $XRP currently trades for $0.5243, up 0.7% over the last 24 hours.