EGRAG, a prominent financial analysis firm, has projected that the market capitalization of XRP could reach an unprecedented high of $997 billion. This prediction reflects a potential price surge to around $18 per XRP, a significant increase from its current price of $0.7325 as of today.
XRP's market cap currently stands at $37.2 billion, ranking it as the fifth most valuable crypto asset. EGRAG's forecast suggests that XRP might replicate its previous rally from 2017 to 2018, albeit at only 7% of the previous appreciation rate. If this prediction holds true and XRP's market cap increases by 7,070%, it could reach the projected $997 billion. This would result in an XRP price of $18.6 if the circulating supply remains stable at 53.5 billion.
For comparison, Bitcoin's market cap is currently at $717 billion while Ethereum and Tether have market caps of $231.4 billion and $86.2 billion respectively. Despite a recent drop in value, XRP's trade volume stands at a significant $1.8 billion with an increase of 14.7% over the past week.
Looking back at XRP's history, in January 2017, its market cap was just $110.5 million when the price collapsed to $0.0030. However, it rallied over the course of a year, hitting an all-time high of $3.3170 in January 2018. This surge resulted in a massive increase in XRP's market cap to $128.4 billion, marking a 140,140% increase. Despite this success, XRP eventually collapsed from this high, leading to a loss of $33.58 billion in its market cap.
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