XRP Price Could Hit $6,194 if XRP Had Bitcoin’s Circulating Supply

A recent analysis confirms that the XRP price per token could soar to an audacious four-figure level if XRP had Bitcoin’s circulating supply.

While XRP has maintained a top 5 spot despite launching over 13 years ago, it still trades way below Bitcoin (BTC), the original cryptocurrency, in terms of market cap and price per token. Over the years, XRP has had moments where it closed in on Bitcoin’s market value, but the gap has continued to widen in recent times.

XRP Lags While Bitcoin Spikes

For instance, in late December 2014, while BTC had a market cap of $4.3 billion, XRP’s market cap stood at $736 million. This means BTC was only 5x larger than XRP. In addition, when Bitcoin had a market cap of $276.6 billion in early January 2018, XRP’s valuation stood at $130.85 billion, indicating that BTC was only 2.1x larger than XRP.

However, today, with XRP holding a market cap of $123.7 billion, Bitcoin has already grown to a $1.8 trillion asset. This massive gap shows that BTC is now 14.5x larger than XRP. Despite this larger gap, XRP has recorded a higher inflation rate than Bitcoin within the period under consideration. 

Specifically, today, XRP has a circulating supply of 60.69 billion tokens. Meanwhile, Bitcoin’s circulating supply sits at 19.97 million tokens. In early January 2018, Bitcoin had a supply of 16.788 million tokens, while XRP’s supply stood at 38.739 billion tokens. Bitcoin’s ability to record higher market caps while seeing less inflation points to its price surge since January 2018.

XRP Price if It Maintained Its Market Cap While Holding Bitcoin’s Supply

Nonetheless, some XRP community figures argue that XRP only lagged due to the SEC’s lawsuit, which began in December 2020 and alleged that XRP was an unregistered security. According to these narratives, the lawsuit, which led to XRP’s delisting across multiple American exchanges, was the reason XRP missed the 2021 bull run and failed to grow alongside the rest of the market.

As a result, XRP currently trades for $2.04, lower than its January 2018 peak, while BTC changes hands at $90,540, much higher than its December 2017 high of $19,666. However, we recently assessed what the price of 1 XRP token would be if XRP maintained its current market cap, but its circulating supply stood on par with Bitcoin.

With XRP currently boasting a market cap of $123.7 billion, if it had Bitcoin’s circulating supply of 19.97 million tokens, the XRP price would stand at $6,194. This represents a 303,527% increase from the current price. 

For perspective, this assessment aligns with the sentiment among certain investors that if most of XRP’s supply were burned, reducing the circulating supply, the price of the leftover tokens would need to surge to maintain the existing market cap. However, the original architects did not design the XRPL’s burn mechanism to reduce supply for price impact.