In the theoretical scenario where Bitcoin reaches a unit value of $52.3 million, XRP could experience astonishing price growth.
XRP has lost the gains it made after Ripple conquered his long-standing lawsuit. At last check, XRP is down over 6% over the past day and is trading at $0.5556.
Members of the XRP community had been eagerly waiting for the end of the legal battle with Ripple to send XRP to the moon. However, this has largely failed to materialize and the excitement over the victory has waned.
As the XRP community looks for the next trend that will drive XRP’s value higher, this article examines the potential price of XRP in a scenario where Bitcoin reaches a value of $52.3 million. Bitcoin’s performance has historically been a strong driver of market sentiment in the crypto space.
VanEck suggests Bitcoin-XRP price of $52.3 million
Billion dollar asset manager VanEck recently outlined three ambitious price predictions for Bitcoin for the coming decades. The base target is $2.91 million per BTC by 2050, resulting in a market cap of $61 trillion. This prediction is driven by potentially huge demand, with Bitcoin potentially being used for 10% of global trade settlements.
VanEck also set a bear-case target of $130,314 and a bull-case target of $52.38 million for Bitcoin by 2050. The report argues that declining confidence in major currencies could fuel Bitcoin’s rise.
For comparison, at a hypothetical value of $52 million per Bitcoin, the asset could achieve a market capitalization of over $1 quadrillion.
This bold prediction raises interesting questions about the potential value of prominent altcoins like XRP, which rank close to BTC.
Specifically, Bitcoin would need to grow by 88,840% to reach the $52.38 million mark from its current value of $58,900, representing an 889x return on investment for users.
On the other hand, with XRP trading at $0.5559, a growth of 88,840% could lead to a market value of $494 for XRP. This assumes that XRP merely follows Bitcoin’s growth curve without outperforming it. If XRP were to outperform Bitcoin, the price target could be even more staggering.
Interestingly, this hypothetical estimate corresponds to the expectations of ambitious XRP analysts who assume that the asset repeat its historic performance of 2017.
Disclaimer: This content is for informational purposes only and should not be considered financial advice. The views expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial loss.
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