TLDR
- Gold added $765 billion to its market cap on November 10, reaching a new valuation of $28.616 trillion.
- XRP’s market cap stands at $146.88 billion, and a $765 billion rise would push its value to $911.88 billion.
- If XRP’s market cap grew by $765 billion, its price could reach $15.198 per token based on its circulating supply.
- XRP’s 6.76% surge on November 10 resulted in a market cap increase of $9.6 billion, showing strong growth.
- Analysts have projected XRP price could reach $15, with a potential market cap rise similar to gold’s recent surge.
On November 10, gold experienced a historic surge, adding $765 billion to its market cap in a single day. The precious metal saw a price increase of 2.85%, pushing its market cap from $27.851 trillion to $28.616 trillion. This sharp rise in gold’s value raises a key question: How high could XRP price go if it experienced a similar market cap increase?
Gold’s $765B Market Cap Jump
Gold’s price began the day at $4,005 per ounce and closed at $4,115, reflecting a $765.1 billion increase in its total market cap. The rise in gold’s value was driven by the 6.954 billion ounces of above-ground gold reserves globally, according to the World Gold Council. This surge marks gold’s largest single-day increase in market cap since May 6, when it rose by $750 billion.
Gold’s price per ounce has been fluctuating throughout November, with a notable recovery from a low of $3,928 per ounce. As gold gains traction, crypto markets have also shown signs of recovery, albeit with more volatility. XRP, in particular, posted a 6.76% rise in price on the same day gold surged.
XRP’s market cap sits at $146.88 billion at present. If XRP were to witness a comparable $765 billion market cap rise, it would reach a valuation of $911.88 billion. With a circulating supply of 60 billion XRP tokens, this market cap would translate to a price of $15.198 per token.
For comparison, XRP’s highest market cap increase in a year occurred in 2024, when it grew by $86.09 billion. Even though $765 billion seems like a substantial jump, it’s not completely out of the realm of possibility for XRP’s price to hit $15. Various market experts have made predictions that XRP price could reach $15 in the future.
XRP Price Could Reach $15 With Growth
XRP’s market cap surged by $9.6 billion to $151.82 billion on November 10, driven by the 6.76% price increase. The total rise in XRP’s valuation is much smaller than gold’s $765 billion jump but still significant. Several analysts, including CryptoInsightUK and Vincent Van Code, predict that XRP could rally to $15 per token.
The potential for XRP to reach $15 per token hinges on several factors, including overall market sentiment and large-scale adoption. XRP’s price could see further growth if similar surges in valuation, like those seen in gold, become a common trend in the coming months. However, for now, the $15 target remains a long-term forecast rather than an immediate reality.
In conclusion, XRP’s price would likely soar to around $15 if its market cap saw a rise similar to the one gold experienced on November 10. While XRP’s price continues to face volatility, the possibility of hitting $15 remains on the horizon for some analysts.
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