The post Here’s How High XRP Can Go if Its Market Cap Hits Projected $1.7T appeared on BitcoinEthereumNews.com.

XRP price could spike above the $30 threshold if the token’s market cap crosses $1.7 trillion as projected by crypto market analyst EGRAG. The ongoing market turmoil has dealt a blow to XRP’s price, concurrently leading to a reduction in its market capitalization. Notably, XRP has lost $5.789 billion from its valuation since March, dropping 18% from $32.041 billion on March 1 to the current figure of $26.252 billion. XRP Market Cap Monthly Chart XRP’s market cap previously hit a yearly peak of $40.746 billion in March but has now shed off nearly $14.5 billion since this top. This is due to the prevalent market-wide collapse, which has triggered a drop in XRP price below the pivotal $0.50 territory. XRP Price at the Projected $1.7T Market Cap Amid the ongoing market uncertainty, analyst EGRAG identified a symmetrical triangle on an inverted monthly chart. In his latest analysis, the chartist emphasized that XRP’s market cap is on the verge of reaching a new all-time high at $1.7 trillion. For context, Bitcoin (BTC), the largest crypto asset by valuation, currently boasts a market cap of $1.198 billion as it trades at $60,783. EGRAG’s projection suggests that XRP could surpass Bitcoin’s current market valuation, an event that would lead its price to unimaginable levels. #XRP Market Cap To $1.7T – Yes $1.7T: pic.twitter.com/bVwhdwy0sG — EGRAG CRYPTO (@egragcrypto) June 25, 2024 This predicted target would also surpass XRP’s all-time market cap peak of $128.49 billion in January 2018, attained when XRP reached an all-time high price above $3. At the current circulating supply of 55.6 billion tokens, the XRP price would surge to $30.5 at a valuation of $1.7 trillion. XRP to 30$ if market cap hits 17T$ While the $30 price might appear ambitious, given XRP’s ongoing struggles underneath $0.50, several market watchers…

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Filed under: News - @ June 27, 2024 10:28 am