- XRP’s 2017 gain corrected to 76,700%, raising its projected price to nearly $1,697.
- Analysts debate if XRP’s market cap applies like traditional assets or functions independently.
- XRP trades at $2.46 with a $147.7B market cap, ranking fifth among global cryptocurrencies.
A recent discussion among XRP analysts has recapped the token’s 2017 performance, revealing that earlier reports underestimated its total percentage gain. The review showed that XRP’s value increased by approximately 76,700% during the 2017–2018 bull run, rising from $0.005 to $3.84. Previous figures reported a 64,000% rise, leading to lower future price projections.
According to the corrected data, if XRP were to mirror its 2017 percentage gain, its price would reach about $1,697.27. Earlier estimates had suggested a $1,414.40 peak based on a 64,000% increase from a starting value of $2.21.
Related: Analyst Predicts XRP May Repeat 2017’s 1200% Rally as ETF Hype Builds Again
Analysts later clarified that the correct figure, when adjusted for the initial price range, stands near $1,416.60. The recalculated numbers show that the original prediction undervalued future growth by more than $280 per token.
Debate Over Market Capitalization
The discussion sparked broader debate within the crypto community regarding the concept of market capitalization in relation to XRP. The Real Remi Relief argued that cryptocurrencies classified as currencies, such as XRP and Bitcoin, should not be bound by traditional market cap metrics.
He likened XRP’s valuation to commodities like oil or gold, which do not have an actual market cap despite their underlying value. Ripple Labs, as a company, could have a measurable valuation, but the XRP token itself, according to his view, operates independently of that metric.
Related: Crypto Déjà Vu: 2021’s Rally Repeats with Familiar Faces
In contrast, analyst King Solomon questioned this argument, noting that excluding XRP from market cap calculations could impact comparisons across digital assets. The exchange of views showed an ongoing divide over how to assess value in decentralized assets and whether traditional market valuation principles apply to tokens that function as currencies.
XRP’s Current Market Standing
As of press time, XRP was trading at $2.46, marking a 3.14% rise over the last 24 hours. CoinMarketCap ranks it fifth among global cryptocurrencies, with a total market capitalization of $147.7 billion. The token’s circulating supply stands at 59.97 billion XRP, against a maximum cap of 100 billion units.
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Source: https://coinedition.com/xrp-price-projection-revisited-after-updated-2017-figures/
