Can XRP Reach $100, $300, or $500 with a Circulating Supply of 57B Tokens
XRP has been at the center of ambitious price targets, but market participants question its ability to attain some of these levels, citing current supply data.
The crypto market often presents opportunities for investors to transform modest investments into multi-million fortunes overnight. At some point, XRP facilitated a similar investment growth when it soared from a floor of $0.003 in January 2017 to a peak of $3.31 in January 2018.
This rally marked a 109,899% increase in a year. To put this into perspective, investors who invested $1,000 in XRP at $0.003 essentially procured 333,333 XRP tokens. As the price hit $3.31, the value of these tokens skyrocketed to $1.1 million within a year.
XRP’s Historical Performance Fuels Optimism
Due to its historical performance, several new investors who enter the XRP market might expect a similar performance, especially amid prevalent ambitious price targets. Some older holders could also be looking to relive the previous rally.
This optimism has stood on predictions of audacious price targets for XRP. Market watcher Armando Pantoja argued last month that $100 for XRP is feasible. Other projections have set targets of $300 to $500. However, many have dismissed these, citing supply concerns.
For context, XRP currently has a circulating supply of 57.1 billion tokens, with an inflation rate of about 200 million tokens every month. With this circulating supply, XRP now boasts a market cap of $140 billion as its price trades at $2.45, making it the third-largest crypto asset in the market.
XRP Market Cap at Varying Price Targets
A rally back to its all-time high of $3.31 would push XRP to a market cap of $189 billion. Further, if it captures the more feasible target of $6, its valuation would reach $342.6 billion,
