XRP Analysis: A 91% Potential Market Cap Increase and 52% Circulation as of July 10, 2023
In this analysis, we delve into the data behind XRP, one of the top cryptocurrencies by market cap. With a focus on its price, trading volume, and supply, we unearth key insights and future predictions.
XRP, currently ranking 6th in terms of market cap, has been on the watchlist of 551,698 cryptocurrency enthusiasts. The current price of XRP stands at approximately $0.47, with a slight increase of 0.9% over the last 24 hours. However, when compared to BTC, XRP has seen a slight decrease of 0.5%.
With a market cap of approximately $24.38 billion, XRP holds a market cap dominance of about 2%. Interestingly, the 24-hour trading volume of XRP amounts to $354.5 million, reflecting a volume to market cap ratio of 0.0143.
Diving deeper, XRP's fully diluted valuation, which estimates the market cap if the maximum supply was in circulation, stands at about $46.65 billion. This figure paints an interesting picture of the potential XRP holds. The current circulating supply of XRP is about 52.25 billion, which accounts for 52.26% of the total supply of 99.99 billion. The maximum supply limit for XRP is set at 100 billion.
From our analysis, we find that if the maximum supply of XRP were in circulation at the current price, the potential market cap would be approximately $46.63 billion. This suggests a potential increase of around 91% in the market cap from its current value.
Looking ahead, as more XRP enters circulation, the market cap is likely to rise, assuming the price per XRP remains stable or increases. However, this is subject to the demand for XRP keeping pace with the increase in supply.
In conclusion, XRP shows strong potential for growth with its large total supply and increasing circulation. The 91% potential increase in market cap indicates a promising future for this cryptocurrency, given the right market conditions.
What is Market Cap in Cryptocurrency?
In cryptocurrency, the market cap (or market capitalization) refers to the total value of all coins in circulation. It's calculated by multiplying the current price per coin by the total number of coins in circulation. Market cap is a key indicator of a cryptocurrency's value, size, and overall market influence.
