Data suggests XRP price could soar by an unprecedented margin if XRP captured only 15% of the global financial market.
Notably, XRP has been the subject of intense speculation among prominent market watchers. Its price remains at a point that many consider is too low compared to its potential and utility. Often touted as the banker’s coin, XRP boasts immense utility in the cross-border payments sector.
Multiple community members have argued that XRP suffers from price suppression. Several theories on the possible factors behind this suppression have emerged. Some point to Ripple’s XRP sales, while others refer to large institutional whales attempting to shake off retail investors.
However, none of these theories have been proven, with the majority of them fueled by mere speculations. Despite this, the general consensus among investors is that XRP is capable of reaching a much higher price point, which could translate to a surge in market cap.
XRP Price at a $21T Market Cap
Consequently, The Crypto Basic recently assessed the potential future price of XRP if it were to capture a significant portion of the global financial market. Recent data suggests that this possibility could lead to an astronomical price increase.
According to the Securities Industry and Financial Markets Association (SIFMA), the total equity market value reached a staggering $140.7 trillion in 2023. This figure marks a 5.9% increase compared to the previous year, showcasing the growing value of the global financial markets.
If XRP were to capture just 15% of this massive market, it would control approximately $21.105 trillion in market value. This would represent an unprecedented leap from its current market cap of $33.73 billion. At the moment, XRP is trading at $0.6009.
To break down the numbers, XRP’s current circulating supply stands at 56.1 billion tokens. If XRP achieved a market valuation of $21.105 trillion, this would lead to a price of $375.6 per token. This potential price represents a significant 62,427% increase from the current figure.
XRP in the $300 Range
Interestingly, several market analysts have already projected XRP prices in the $300 range. For instance, market commentator Dark Defender recently highlighted his long-term investment goal for XRP, which is set at $333.
Although he previously projected lower targets of $3, $5 and $18, he maintains that his ultimate expectation for XRP is $333, emphasizing his belief in XRP’s future growth.
Similarly, in February, another market analyst named JD predicted that XRP could break out of its long-standing price stagnation. He argued that XRP has been in a 5.5-year capitulation trend and suggested that the cryptocurrency could potentially experience a 650x surge, propelling it to a price of $330.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
