With each passing day, debates about XRP’s future price trajectory seemed to emerge, with no definite conclusion on what to expect from the coin in the future.
According to Coincodex, XRP, the sixth-largest cryptocurrency by market capitalization of roughly $27.5 billion, is changing hands at about $0.51, reflecting a 4.9% drop in the past 24 hours.
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Coincodex also revealed that volatility on XRP is high at about 5.4%, adding that the sentiment on the coin is bearish.
XRP has graced the crypto sphere for over ten years, yet the maximum worth the coin ever attained was $3.84, which was about 6 years ago.
Having analyzed situations based on present market standings, XRP could revisit or overshoot its ATH if XRP can capture a reasonable part of the global crypto market cap. Find out how.
Global Crypto Market Market – What Does It Entail?
The global market cap is the totality of the market cap of cryptocurrencies in the market.
Basic crypto knowledge helps us to understand the market cap estimation of a single crypto entity. It implies multiplying an individual crypto asset’s circulating supply with its selling price.
Having established the above facts, the next question should be the worth of the entire crypto market cap. Estimating such values based on the explanations above could be so cumbersome. However, CoinGecko, a renowned crypto assets’ price tracking site, will come in handy in helping with such calculations.
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XRP Price With A $171 Billion Market Cap
According to CoinGecko, the entire crypto market valuation is about $1.71 trillion. Based on calculations, XRP’s $27.5 billion market cap holds about 1.61% of the global crypto market cap.
XRP’s share of the entire market cap seems fair relative to stablecoins, which combine to make up only 8% of the entire market capitalization.
Should XRP attain sustainable expansion and possibly capture 10% of the overall crypto market cap, it implies that its market cap will spike to about $171 billion.
For a $171 billion market cap, it signifies that XRP’s 54.4 billion circulating supply will stand at about $3.1 price per token, which seems highly realistic in comparison with XRP’s ATH.
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