Home Finance Ripple’s XRP Token to be Priced at $692.30 in Due Time

Ripple’s XRP Token to be Priced at $692.30 in Due Time

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After a couple of days filled with panic, the crypto market is finally recovering. Nearly all top 100 cryptocurrencies are in the green zone and the future is starting to look bright again. Ripple is the one who suffered the most from this recent market crash dropping below the US dollar but fortunately, Ripple is making a strong comeback.

Ripple Makes a Comeback

After hitting a low of $0.62 yesterday, Ripple grew by 21.43%. This puts Ripple’s XRP token at a value of $0.749423 and we can be sure that Ripple’s entire community is relieved to see this. Nonetheless, let’s check out some predictions for Ripple in the foreseeable future.

XRP Token to be Priced at $692.30

While this expected sum might seem impossible right now because it implies that Ripple’s total market capitalization needs to hit the $27 trillion mark, we should note that the full value of all gold mined is estimated at $7.8 trillion. Moreover, let’s delve a bit deeper into this prediction and see why Ripple is expected to hit such a huge milestone.

This value makes sense when considering that Ripple’s XRP token will become the standard digital currency and system of choice for financial institutions that are involved with cross-border settlements.

As of now, the daily estimate for every cross-border payment in the world is $9.8 trillion and if Ripple were to become the standard coin and system for this type of transactions, Ripple’s price would skyrocket.

Trillion Dollar Market Cap

In the present, Bitcoin is the only cryptocurrency that’s even close to dreaming of reaching the one trillion dollar market cap. However, there’s a possibility that Ripple might get ahead of Bitcoin in this race.

The total circulating supply of Ripple is 39 billion coins and the total market capitalization is $28.489 billion. If things go according to plan and Ripple does become the favorite cryptocurrency that financial institution use, that market capitalization is going to double in no time.