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The popular cryptocurrency XRP is on the cusp of a staggering milestone, where its price is rising so high that the digital asset is about to hit the $100 billion mark. This mark is not new for XRP, but the last time the cryptocurrency had a 12-digit capitalization figure was back in 2018.
Then, six years ago, the price of XRP set its all-time high at $3.13 per token, and its market capitalization reached $120.76 billion, according to CoinMarketCap. It is interesting to note that XRP is currently quoted at $1.66 per token, which it reached already in May 2021. However, at that time, XRP's capitalization reached only $70.65 billion at its peak.
The fact is that the number of tokens in circulation then was much smaller, which is explained by the tokenomics of XRP, where out of almost 100 billion tokens, 55% were blocked in the escrow accounts of the crypto company Ripple. Subsequently, with monthly unlocks, the number of tokens in circulation has reached 57.05 billion XRP to date, which allows the token to have a capitalization of $25 billion more at a similar price as in 2021.
Now, for the price of XRP to reach $100 billion, it needs to add another 2.65% to reach $1.75, which does not seem like an impossible task.
Despite the fact that XRP's position in the ranking of the largest cryptocurrencies will not change, the $100 billion mark is an important psychological boundary for the digital asset and can be said to make it more established in the eyes of investors less involved in the crypto market, making it an advertisement in itself.
Needless to say, this also theoretically makes XRP the 170th largest entity on the list of the largest companies worldwide.