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The $XRP price has the potential to cross the $40 psychological level if $XRP ever matches the market worth of silver.
Notably, $XRP has continued to struggle at the $3 price level since the start of October, unable to decisively surpass the region but persistently defending the support at $2.98. Amid this power tussle between the bears and bulls, $XRP’s market cap has continuously fluctuated between $176 billion and $185 billion this month.
$XRP’s Market Cap Struggles
$XRP’s next market cap target rests on the $190 billion mark, where it collapsed from on Sept. 13 when it dropped from a price of $3.18. Meanwhile, beyond the $190 billion mark, $XRP’s market cap eyes the $200 billion milestone, a level it attained in mid-July.
Additionally, others have suggested that if Bitcoin is digital gold, then $XRP itself is digital silver. Considering these mentions, our latest report explored the prospect of $XRP targeting the valuation of silver, the second most valuable precious metal on earth.
For context, silver has a market cap of $2.725 trillion, making it the sixth-largest asset by valuation. The precious metal also ranks above Bitcoin (BTC), the original cryptocurrency, in terms of market cap. However, what if $XRP, touted as digital silver, matched silver’s market cap?
$XRP Price if It Matches Silver’s Market Cap
Considering its current valuation of $179.03 billion, $XRP’s market cap would need to grow by a massive 1,421% to reach silver’s $2.725 trillion worth. At such a market cap, the price of 1 $XRP will have soared to $45.41 with $XRP’s current circulating supply of around 60 billion tokens.
To put things into perspective, a market participant who commits $10,000 into $XRP today would procure 3,355 tokens at the current $XRP price of $2.98. However, should $XRP hit silver’s market cap with the price soaring to $45.41, the worth of these 3,355 tokens would grow to around $152,000, presenting gains of over $142,000.
While the potential sounds enticing, the prospect of $XRP matching silver’s market cap remains ambitious at press time. There is no guarantee that $XRP will ever hit this milestone. Also, in such a scenario, Bitcoin, which remains the crypto market leader, could also have a worth of about $37.8 trillion.