XRP could potentially see a significant turnaround if it manages to replicate the impressive rally witnessed by Binance Coin (BNB) from 2020 to 2021. While some cryptocurrencies have grasped the opportunities presented during the bull run phase to surpass previous price levels, XRP has struggled to capitalize on this market trend. In contrast, during the 2017 to 2018 bull run, XRP experienced a remarkable surge of 60,000%. However, its performance in the 2020/2021 bull phase was hindered by the SEC lawsuit against Ripple, which led to negative price action and delisting from several U.S.-based exchanges. With XRP recently declared a non-security and relisted on these exchanges, many market analysts believe it will not miss out on the current bull run.
Taking inspiration from BNB’s 2020 run, where it started at $13.7, reached a high of $638, and spiked by 9,813%, we can speculate on what XRP’s price could reach under similar circumstances. XRP traded at a low of $0.5386 in March 2024, but if the ongoing bull run continues into the next year as previous bull markets have, XRP could potentially reach $53, establishing a new all-time high. This would mean a $1,000 investment in XRP could yield $96,839. However, it is essential to note that this scenario is purely hypothetical and carries no guarantees. Additionally, a $53 price per XRP token would require a market cap of $5.3 trillion, which is largely influenced by XRP’s supply.