Ripple [XRP] Recently, the price of bitcoin has dropped significantly. XRP’s price has dropped by 1.95% in the last 24 hours. It is now below the support level of $0.53, signalling a negative market sentiment. XRP was priced at $0.52 as of press time. Its capitalization, which was about $28.8 Billion at press time, has decreased as well. This places it in the seventh place among all cryptocurrencies. The 24-hour volume of trading has increased by 9.34%, to $1.27 Billion, which indicates active trading.
Since its creation in 2012, XRP is experiencing substantial growth. During the bull market of 2017, XRP price surged to a high of $3.31 from a $0.003 low in January 2017. It was an incredible 110,233% growth in a single year. XRP’s market cap topped $128 Billion.
Also Read: Can XRP ETF Hype Push Ripple’s Price To Breach $0.75 in June?
Market Cap Projections to $3 Trillion
EGRAG’s analysis suggests that XRP’s market cap may reach $3 trillion. EGRAG’s analysis is based on an ascending-channel pattern known as “the White Channel,” Since 2017, XRP has been trading within a channel. This channel has a midpoint at $100 billion and a trendline of $287 billion. EGRAG says that if XRP is able to surpass the midpoint of its market cap, then it may push onwards toward $287 Billion.
If XRP market cap reaches $3 trillion then the price of the token is predicted to rise to $54.1 assuming that the circulating stock remains at 55,4 billion. It would be a 10,468% rise from XRP’s current $0.523 price. This is a very optimistic, if theoretically plausible scenario. This projection highlights the possibility of significant growth, even though it is based on various factors.
Also Read: ChatGPT 4o Predicts When Ripple (XRP) Could Hit $1?
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Source: watcher.guru