XRP Approaches a Significant Milestone
The popular cryptocurrency XRP is on the verge of reaching a $100 billion market capitalization, a level last surpassed in 2018. This major milestone comes as XRP's price surges, now standing at $1.66 per token.
Six years ago, XRP reached its all-time high at $3.13 per token, with a market capitalization of $120.76 billion, according to CoinMarketCap. The recent growth in both price and market cap signals renewed interest in XRP within the market.
XRP Tokenomics: The Key to Understanding Its Growth
The current situation differs from 2021, when XRP also reached $1.66 per token but had a market capitalization of only $70.65 billion. The difference lies in the circulating supply of tokens.
In 2021, a significant portion of XRP—nearly 55% of the total 100 billion tokens—was locked in escrow accounts held by Ripple. Since then, tokens have been gradually released, increasing the circulating supply to the current 57.05 billion XRP. This has allowed the market cap to grow by $25 billion at a similar token price.
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How Close Is XRP to the $100 Billion Mark?
For XRP to hit this psychological milestone, its price needs to increase by just 2.65%, reaching $1.75 per token. This goal appears achievable, especially in the current positive market environment.
Surpassing this milestone will not only solidify XRP’s position among the largest cryptocurrencies but also enhance its credibility in the eyes of a broader investor audience, including those less engaged with the crypto market.
XRP as a Global Player
Reaching a $100 billion market cap would theoretically place XRP at 170th position among the world’s largest companies. This achievement makes XRP not just a significant player in the cryptocurrency space but also an entity deserving of attention beyond the sector.
The psychological impact of this milestone enhances XRP's prestige, positioning it as both an investment and a promotional tool for the broader cryptocurrency ecosystem.
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