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XRP price could push toward its all-time high if it maintains its dominance at a global crypto market cap of $12 trillion.
The global crypto market capitalization has grown since the launch of the premier crypto asset Bitcoin. This impressive growth is due to two factors: the launch of new assets bringing additional capital to the market, and the increase in the prices of existing ones as a result of new capital flowing into them.
The Global Crypto Market Cap
Market data confirms that the global crypto market cap collapsed to a low of $2.12 billion in February 2015. However, as at January 2018, the market had grown to $761 billion. Following years of upswings and declines, the global crypto market cap now stands at $2.098 trillion.
Meanwhile, XRP’s market cap, which continued to grow alongside the rest of the crypto market from 2014 to 2018, suddenly dipped due to price challenges. XRP’s market cap rose to $128.48 billion in January 2018, bringing XRP’s market dominance near 18%.
Nonetheless, as the crypto market grows, while XRP underperforms, XRP’s market dominance now sits at 1.57% amid a market cap of $33 billion. However, it appears XRP has continued to pick up the pace now that it is rid of its regulatory challenges.
XRP Price if Crypto Market Cap Hits $12T
If XRP maintains this market dominance, its price could reach unprecedented levels when the global crypto market grows bigger. But, in such a scenario, how far XRP price could go would depend on the growth extent of the broader market. Industry commentators have set varying targets.
For instance, the Ripple CEO Brad Garlinghouse projected that the global crypto market could hit $5 trillion by the end of the year. Interestingly, Cardano Bull Dan Gambardello recently asserted that the market could grow to the $12 trillion mark by 2026.
$12 trillion total crypto market cap is in play. pic.twitter.com/oPmty9qDMd
— Dan Gambardello (@cryptorecruitr) September 17, 2024
If XRP maintains its market dominance when the crypto market reaches $12 trillion, XRP’s market cap would stand at $188.4 billion. This represents a 488.75% increase from the current valuation of $32 billion.
Notably, XRP boasts a circulating supply of 56.38 billion tokens. Given its inflation rate of 200 million tokens each month, this circulating supply would rise to 59.38 billion by 2026. With a $188.4 billion market cap and a circulating supply of 59.38 billion, XRP price would rise to a mere $3.17, a few cents below its all-time high of $3.31.
While some proponents might argue that this price looks underwhelming for XRP by 2026, predictions from crypto exchange platform Changelly are less bullish. Interestingly, Changelly analysts expect XRP to cross the $3 mark in 2028, two years after 2026.
With XRP price currently trading for $0.5861, it would need to rally by 428% to reach the $3.1 target. Multiple analysts believe it could achieve this feat within a shorter timeframe. For instance, crypto YouTuber Levi Rietveld recently predicted XRP price to reach $40 in months.