Recently, someone asked if XRP could rise to $100, $300, or $500, especially since it currently has a circulating supply of 57 billion.
In the cryptocurrency market, investors can go from small-time operators to millionaires overnight. XRP once had such glory; it was only $0.003 in January 2017, and by January 2018, it skyrocketed to $3.31.
This surge was 109,899%, just thinking about it is exciting. If someone had invested $1,000 in XRP back then, they would have made a fortune, turning it into $1.1 million within a year.
XRP's historical performance is optimistic
XRP was so strong before, and new investors are surely hoping for another spike, especially with such high price expectations now. Older investors may also want to relive the glory days.
Everyone is so optimistic, so naturally some people have set high price targets for XRP. A market observer said last month that it's not a dream for XRP to rise to $100. Others believe it can rise to $300 to $500. However, many feel these targets are too high, especially given the large circulation.
Currently, XRP has a circulating supply of 57.1 billion, with an additional 200 million minted each month, priced at $2.45, and a market cap of $140 billion, making it the third-largest crypto asset in the market.
Market cap at different price targets
If XRP can return to its historical high of $3.31, its market cap would be $189 billion. If it rises to a more realistic $6, the market cap would be $342.6 billion. If it rises to $11, the market cap would be $628 billion, which is higher than Ethereum's current value but still reasonable.
However, for XRP to reach $100, its market cap would need to be $5.7 trillion, which is significantly higher than the current global cryptocurrency market cap of $3.63 trillion. If it reaches $300, the market cap would need to be $17.13 trillion, nearly matching gold's $17.9 trillion.
The target of $500 is even more challenging, requiring a market cap of $28.5 trillion. This would mark the highest value of a single asset in modern times.
Can XRP reach $100, $300, and $500?
Given the current market conditions, it may be difficult for XRP to rise to $100, $300, or $500, unless there is a significant change in market conditions. However, smaller targets like $6 and $11 might still be achievable.
Despite the challenges, analysts at Changelly believe that XRP could potentially achieve these high price targets in the coming decades. They expect XRP might fall below $1 next year, but then it will surge.
They believe that by 2040, XRP could reach $100 and $300, and by 2050, in 26 years, it could reach $500.
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