XRP has the potential to reach higher price levels if its market cap approaches $100 billion. However, the implications of such a milestone on the price of XRP remain uncertain. In the past, XRP has battled for the second-largest cryptocurrency spot with Ethereum, but eventually faced bearish pressure due to various factors, including the ongoing SEC lawsuit.
During the 2017 bull run, XRP had its best performance, with its market cap ranging from $1.8 billion to $10 billion between May and November. In December of that year, XRP’s market cap surged to a record $95 billion, making it the second-largest cryptocurrency with a market dominance of 16.36%. In January 2018, XRP’s market cap crossed the $100 billion mark for the first time, reaching a peak of $128.49 billion.
Now that XRP is free from the legal pressure of the Ripple v. SEC lawsuit, some market watchers predict ambitious price targets, including $27 and $200+. However, skeptics question the feasibility of such targets based on the resulting market cap for XRP.
If XRP were to reach a market cap of $100 billion at its current circulating supply of 56.8 billion tokens, its price would be $1.76 per XRP, still below its all-time high. Recovering its peak market valuation of $128.49 billion would increase its price to $2.26. These lower prices compared to the all-time high are due to inflation in the market over the past years.
For XRP to reach a price of $10, its market cap would need to spike to $568.1 billion, which is ambitious but within the realm of possibility. However, a price of $100 or $500 for XRP would require market caps of $5.6 trillion and $28.4 trillion, respectively, which would be highly challenging to achieve due to the significant amount of money involved.
In conclusion, while reaching a price of $10 is more conceivable for XRP, the more ambitious targets of $100 and $500 might prove to be highly difficult due to the required market cap. However, the cryptocurrency market is unpredictable, and nothing can be certain.