Here is XRP Price if Bitcoin Hits $2.9M as Predicted by VanEck
XRP price can potentially reach unprecedented highs if its path trails Bitcoin (BTC) should the premier crypto hit $2.9 million, as projected by VanEck.
The cryptocurrency market has recently encountered obstacles, with Bitcoin and other assets experiencing significant declines. As a result, XRP has fallen below the $0.60 and $0.50 psychological thresholds, causing concern among both seasoned and new investors.
Despite the downturn, industry experts believe that Bitcoin will eventually recover from the market crash. This recovery is expected to have a positive impact on the broader market, leading to a rebound in assets like XRP. For example, veteran trader Peter Brandt anticipates an imminent “pump” towards the $90,000 range.
VanEck Predicts Bitcoin to Reach $2.9M in 2050
In addition, there are bullish long-term predictions for Bitcoin, including one recently made by leading asset manager VanEck. In a report last month, VanEck speculated that BTC could potentially reach an ambitious $2.9 million by 2050.
Such a value would represent a substantial increase from Bitcoin’s current value. This rise is expected to have an impact on the rest of the market, benefiting XRP as well. This is due to the close price correlation between Bitcoin and altcoins like XRP.
While this relationship can be detrimental to XRP’s growth during market downturns, it can also be advantageous for the altcoin when Bitcoin experiences a rebound. Bitcoin has already recovered from the $50,000 level it recently retested and is now approaching $55,000. Consequently, XRP has also rebounded and is looking to exceed $0.50. CoinMarketCap data confirms this close price correlation.
XRP Price if BTC Reaches $2.9M
Therefore, if Bitcoin reaches $2.9 million, XRP could potentially experience a similar growth rate. For context, Bitcoin is currently trading at $54,754, down 19% over the past seven days. To reach $2.9 million by 2050, Bitcoin would need to see a 5,215% increase within 26 years. Given Bitcoin’s historical growth rate, such an increase is considered feasible.
However, XRP is currently trading at $0.4939, having dropped 18.16% in the last week. If XRP follows Bitcoin’s trajectory over the next 26 years during BTC’s rise to $2.9 million, the price of XRP could reach $25.7945 in 2050.
While this price level may seem ambitious, some market analysts anticipate XRP surpassing this point in a shorter timeframe. For instance, analyst Javon Marks anticipates XRP surging to an audacious $150 price level, based on a breakout from a multi-year downtrend.