Ripple's token XRP has become one of the best-performing cryptocurrencies in the past month. However, can it reach a market capitalization of 1 trillion USD? 🤔
- After Donald Trump won the 2024 U.S. presidential election, XRP surged in price, especially after SEC Chairman Gary Gensler announced he would be leaving the agency. The price of XRP once increased by more than 400%, but then fell below 2 USD.
- Currently, XRP is priced at around 2.5 USD with a market capitalization of over 140 billion USD. To reach 1 trillion USD, the price needs to rise to about 17.5 USD per token.
- ChatGPT and Perplexity believe that market sentiment and the level of adoption of XRP are crucial factors. If global financial institutions adopt Ripple's solutions, demand for XRP may increase. 🤝
- However, XRP faces competition from other projects and an unstable regulatory environment that could negatively impact it.