The market dynamics have been changing over the last couple of days. Several assets were seen drowning in volatile waters. Ripple’s XRP was seen struggling to maintain itself above the $0.60 level. At press time, the asset was trading at $0.5968 following no major spikes over the past 24 hours. XRP saw one of the weakest rallies all year as it surged by only 10.79% in the past 12 months.
Ethereum (ETH) recorded a similar fate. The asset was trading at $2,585.89 with only a 54% rise over the year. While several assets created new peaks, ETH struggled and failed to reclaim its all-time high of $4,891. At present, ETH is trading 47% below its current level. But several investors along with VanEck believe that Ethereum will surge to a high of $50,000. This prediction was asset management firm last year after a thorough analysis of the asset. VanEck anticipates that this forecast will come true by 2030.
For Ethereum to reach the $50,000 level, it must increase by 1,590%. The market capitalization of the altcoin, at $355 billion, would increase to nearly $6 trillion at a $50,000 price. If it were to exactly mimic Ethereum’s 16X rise to $50,000, it might be worth $7.1.
Also Read: Ripple: What Will XRP’s Price Be If Bitcoin Hits $300,000?
Is $7.1 An Unrealistic Bet For XRP?
XRP would reach an unparalleled historical high of $7.11 along with ETH. By then, XRP might have a fully diluted market cap of $717 billion, which would be a big increase from $312 billion. It’s interesting to note that Changelly’s analysts predict Ethereum will reach $50,000 by 2030, which coincides with XRP reaching the $7 price range. Nonetheless, some aspirational members of the XRP community think $7 is a reasonable objective for this bull market.
