In the theoretical scenario where Bitcoin attains a unit value of $52.3 million, XRP could witness astonishing price growth.
XRP has lost the gains it accrued after Ripple conquered its long-running suit. At the last check, XRP has declined by over 6% over the past day, trading at $0.5556.
Members of the XRP community had eagerly anticipated that the end of Ripple’s lawsuit would send XRP to the moon. However, this has largely failed to happen, and the fever from the victory has waned.
While the XRP community searches for the next narrative to drive up XRP’s value, this article explores XRP’s potential price 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.
XRP Price of Bitcoin Hits $52.3M as VanEck Suggests
Billion-dollar asset manager VanEck recently outlined three ambitious price outlooks for Bitcoin for the coming decades. The base case target is $2.91 million per BTC by 2050, leading to a market cap of $61 trillion. This projection is driven by potential massive demand, with Bitcoin possibly being used for 10% of global commerce 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 context, at the hypothetical $52 million per Bitcoin, the asset could command a market cap exceeding $1 quadrillion.
This audacious forecast raises intriguing questions about the potential value of prominent altcoins like XRP, which rank close to BTC.
Notably, Bitcoin would need to grow by 88,840% to reach the $52.38 million mark from its current value of $58,900. This represents an 889-fold return on investment for adopters.
On the other hand, with XRP trading at $0.5559, an 88,840% growth could result in a market value of $494 for XRP. This assumes that XRP merely follows Bitcoin’s growth trajectory without outperforming it. If XRP were to outperform Bitcoin, the price target could be even more staggering.
Interestingly, this hypothetical estimation aligns with the expectations of ambitious XRP analysts, who anticipate the asset will repeat its 2017 historical performance.