How High XRP Could Go if Ethereum Surpasses $50,000
thecryptobasic.com 10 July 2024 10:44, UTC This article explores the potential for XRP’s value surge if altcoin leader Ethereum reaches $50,000, as industry pundits anticipate.
XRP and Ethereum have both lost significant percentages of their values in recent times as the crypto asset market battles with bearish forces. At a market value of $2,960, Ethereum currently sells at a month’s low.
In particular, ETH investors are nursing a loss of approximately 20% in the last 30 days. On the other hand, XRP is trading at a year’s low at $0.4245, though it reflects a 15% loss in the last 30 days.
While XRP and Ethereum currently exhibit underwhelming performances, the crypto community remains ambitious about their prospects. One such audacious view is the expectation of the altcoin market leader to be worth $50,000. With XRP closely following ETH on the ranking, The Crypto Basic assesses XRP’s potential value while Ethereum trades at $50K.
XRP Potential Price When Ethereum Hits $50K
Among the believers in an Ethereum price point of $50K is U.S. investment firm VanEck. The billion-dollar asset manager made the proposition last year based on a detailed examination of the asset. VanEck expects this outlook to materialize by 2030, a timeline analysts at the Changelly exchange agree with.
At its current market value of $2,960, Ethereum needs to advance by 1,590% to attain the $50K threshold. While the altcoin leader boasts a market cap of $355 billion, the $50K price would elevate this valuation to over $6 trillion.
Meanwhile, with XRP exchanging hands at $0.4245, the fourth largest altcoin could potentially be worth $7.1 should it perfectly replicate Ethereum’s 16X surge to $50K.
This figure aligns with the estimation of OpenAI’s ChatGPT when consulted. However, the AI chatbot issued a disclaimer that the $7.1 is merely a simplistic estimation, stressing that the actual values of XRP could vary based on multiple elements.
When Can XRP Attain $7.11?
Like ETH, a $7.11 price point for XRP would mark an unprecedented history. At this point, XRP could wield a fully diluted market cap of $717 billion, a significant advancement from the current $42.45 billion.
Interestingly, Changelly’s analysts believe XRP could achieve the $7 price region by 2030, coinciding with their projected timeline for Ethereum to hit $50K. However, ambitious voices in the XRP community believe $7 is a realistic target for this bull market.
It is worth noting that while XRP ranks closely with Ethereum, XRP’s recent performance pales compared to that of the altcoin leader. For instance, Ethereum was among the best-performing assets during the Q1 bull frenzy. In contrast, XRP underperformed 61% of the top 100 ranking crypto assets in Q1, which worsened to 77% based on the most recent data.
