XRP price could rise towards all-time highs if it maintains its dominance in the global cryptocurrency market cap of $12 trillion.
The global cryptocurrency market capitalization has been increasing since the launch of premier crypto assets. BitcoinThis impressive growth is due to two factors: the launch of new assets bringing additional capital into the market, and the influx of new capital has resulted in higher prices for existing assets.
Global cryptocurrency market size
According to market data, the global cryptocurrency market capitalization fell to a low of $2.12 billion in February 2015. However, as of January 2018, the market cap had grown to $761 billion. After years of ups and downs, the global cryptocurrency market capitalization now stands at $2.098 trillion.
Meanwhile, the market cap of XRP, which had been growing alongside the rest of the cryptocurrency market from 2014 to 2018, suddenly dropped due to price challenges. XRP's market cap rose to $128.48 billion in January 2018, giving XRP a market share of nearly 18%.
Yet, while the cryptocurrency market has grown, XRP's performance has declined. XRP’s Market Power Currently, the market cap is $33 billion, with XRP’s share at 1.57%. However, with regulatory challenges now resolved, it appears XRP will continue to gain momentum.
XRP Price if Crypto Market Cap Hits $12 Trillion
If XRP maintains this market dominance, its price could reach unprecedented levels as the global cryptocurrency market expands. But in such a scenario, how far XRP's price will rise will depend on the extent of the broader market growth. Industry commentators have set different goals.
For example, Ripple CEO Brad Garlinghouse said: Projected The global cryptocurrency market could hit $5 trillion by the end of the year. Interestingly, Cardano bull Dan Gambardello recently claimed that the market could grow to $12 trillion by 2026.
The total cryptocurrency market capitalization reaches $12 trillion. pic.twitter.com/oPmty9qDMd
— Dan Gambardello (@cryptorecruitr) September 17, 2024
If XRP maintains its market dominance when the cryptocurrency market hits $12 trillion, its market capitalization would be $188.4 billion, which would represent a 488.75% increase from its current valuation of $32 billion.
It is worth noting that XRP has a circulation of 56.38 billion tokens. With an inflation rate of 200 million tokens per month, this circulation will increase to 59.38 billion tokens by 2026. With a market cap of $188.4 billion and a circulation of 59.38 billion tokens, XRP Price It will rise to just $3.17, a few cents below its all-time high of $3.31.
While some proponents may argue that a drop in XRP's price to the $3 range by 2026 is disappointing, cryptocurrency trading platform Changelly's prediction is less bullish. Interestingly, Changelly analysts expect XRP to reach the $3 range in 2028, two years after 2026.
XRP's price is currently trading at $0.5861 and would need to rise 428% to reach the target of $3.1. Several analysts believe it could achieve this feat in a shorter period of time. For example, crypto YouTuber Levi Rietveld said: Recently predicted XRP price will hit $40 within a few months.
Disclaimer: This content is for informational purposes only and should not be considered financial advice. The views expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
