The post Here’s XRP Potential Surge If Bitcoin Achieves $1M as Predicted by Bernstein appeared on BitcoinEthereumNews.com.

XRP could similarly enter unprecedented price territories if Bitcoin attains the $1 million that Bernstein analysts anticipate. XRP has been stuck in a holding pattern, lingering just shy of the $0.50 mark for days. As of now, XRP is trading at $0.486, reflecting a modest loss of 1.08% in the last 24 hours. However, over the past month, XRP has bled a more substantial 8.35% of its value. This lackluster performance extends its year-over-year trend, with investors holding XRP at a 4.66% loss since 2023. Meanwhile, XRP is hoped to be among the beneficiaries of a buoyant crypto market in which the premier asset, Bitcoin, trades at a $1 million price point. Bitcoin Reaching $1M Market watchers at billion-dollar asset manager Bernstein are among the latest industry pundits to forecast a $1 million value for Bitcoin. Their recent analysis suggested that the premier crypto could attain this ambitious threshold within the next nine years. Meanwhile, former Twitter CEO Jack Dorsey has voiced a more audacious timeline. During a podcast in May, Dorsey argued for a $1 million Bitcoin price within the next six years. Notably, at a $1 million price, Bitcoin could command a market cap of $20 trillion. Given Bitcoin’s typical dominance of around 50%, this suggests that the overall cryptocurrency market, including leading altcoins like XRP, could reach a combined market cap of $20 trillion. Essentially, XRP stands to benefit significantly from Bitcoin’s surge to $1 million. Accordingly, this raises the question of what XRP’s value might be in such a scenario. XRP Price if Bitcoin Hits $1M For Bitcoin to reach $1 million, it would need to increase by 1,456% from its current value of $64,246. If XRP experiences a similar percentage growth from its current price of $0.486, it would reach approximately $7.56.  Notably, altcoins are…

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Filed under: News - @ June 22, 2024 2:22 pm