With XRP price trading today around $0.514, many investors speculate if it could hit $1 by year-end. While this scenario is possible, this article explores how high XRP price would reach if its market capitalization hits $10 trillion.
It is likely that Ripple (XRP) could hit $1 and go beyond this key psychological level in this bull run. However, reaching its ATH of $3.1 or a $10 trillion market cap seems highly unlikely for various reasons. To put things into perspective, the combined market capitalization of Apple, Nvidia, and Microsoft is $10.16 trillion. Suffice it to say this outlook is not going to happen.
XRP Price If Ripple’s Market Cap Hits $10 Trillion
For the sake of argument, let’s assume that Ripple hits $10 trillion and explore how high the value of XRP could go then.
To provide context, the current market cap of Ripple is $29.331 billion, making it the seventh-largest cryptocurrency. Its current circulating supply stands at 56.811 billion. Investors should note that although the theoretical total supply is 100 billion, the actual total supply is 99.987 billion.
Let’s assume a $10 trillion market capitalization with a theoretical total supply of 100 billion; this would mean that the XRP price would be worth $100. On the other hand, if the market cap were to hit $10 trillion tomorrow, it would put XRP price at $176.
Regardless of whether Ripple hits $10 trillion or not, let’s explore XRP price analysis and what can happen in the short-term.
Ripple Price Analysis: What’s Next for XRP?
XRP price suffered a fatal double-digit crash of 26% since the start of October and is currently stabilizing after forming a local bottom around $0.486. Due to altcoin’s high correlation with Bitcoin, investors need to wait for BTC’s directional bias to be clear before deciding to invest in Ripple.
If Bitcoin price builds a stable support level above $70K, it could signal that the bull run has began and could propel XRP price higher. Until that happens, this remittance token could continue to to hover between the two key levels – $0.469 and $0.556.
The Relative Strength Index (RSI) has slipped below the mean level of 50 after tagging the overbought level on September 29. The incoming recovery rally needs to stablie above RSI’s mean level to confirm the comeback of bullish momentum. Such a development could seen the remittnace token up by 7.65% to $0.556.
XRP/USDT 1-day chart
On the other hand, if XRP price fails to generate the bullish momentum, it could crash 9% to the next key support level of $0.469.
The post How High Can XRP Price Go With a $10 Trillion Market Cap? appeared first on CoinGape.
