XRP on the Brink of $100 Billion Milestone for the First Time Since 2018
The popular cryptocurrency XRP is on the verge of an impressive milestone where its price is rising so much that the digital asset is about to hit the $100 billion mark. This milestone is not new for XRP, but the last time the cryptocurrency had a 12-digit capitalization number was in 2018.
Then, six years ago, XRP’s price hit an all-time high of $3.13 per token, and its market cap reached $120.76 billion, according to CoinMarketCap. Interestingly, XRP is currently trading at $1.66 per token, which it had already reached in May 2021. However, at that time, XRP’s market cap only reached $70.65 billion at its peak.
The fact is that the number of tokens in circulation at the time was much lower, which is explained by XRP's tokenomics, where, of almost 100 billion tokens, 55% were locked in the custody accounts of the cryptocurrency company Ripple. Later, with monthly unlocks, the number of tokens in circulation reached 57.05 billion XRP to date, which allows the token to have a capitalization of $25 billion more at a price similar to that of 2021.
Now, for XRP’s price to reach $100 billion, it needs to add another 2.65% to reach $1.75, which doesn’t seem like an impossible task.
Despite the fact that XRP's position in the ranking of the largest cryptocurrencies will not change, the $100 billion mark is an important psychological barrier for the digital asset and can be said to make it more established in the eyes of investors less involved in the cryptocurrency market, becoming an advertisement in itself.
Needless to say, this also theoretically makes XRP the 170th largest entity on the list of the world's largest companies.#XRP🚀
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