One year after Judge Torres ruled XRP is not a security, its price surged 20.5% to $0.5153, with a 10.12% gain in the past 24 hours.
XRP investors were granted the much-needed clarification they sought on July 13, 2023, when Judge Analisa Torres declared that the coin was not a security.
The weekly statistics showed a 20.5% increase in the price of XRP to $0.5153, exactly one year after the summary judgment. At the time of publication, XRP has experienced a 10.12% increase in the past 24 hours.
Investors’ expectations of an imminent rally that could elevate the price to unprecedented heights have been reignited by XRP’s exceptional performance over the past few days. As a result, some enthusiasts anticipate that XRP could potentially impact the valuation of the American technology company Apple in the future.
We evaluated the price of XRP in the event that it surpassed the market capitalization of Apple shares using this projection. For the sake of context, Apple’s market capitalization is $3.54 trillion. Nevertheless, the current valuation of XRP is $28.83 billion, which is substantially lower than its previous valuation.
This suggests that in order to reach Apple’s market capitalization of $3.54 trillion, XRP’s valuation must increase by 12,074% or 120.74x. If the circulating supply of XRP remains at its present level of 55.8 billion, a massive rally of 12,074% would result in a price of $62.7326, with the token currently trading at $0.5153.
Although the $62 price may be deemed excessive by many, certain experts have previously established more ambitious objectives for the coin.
Andrew Forte, a prominent crypto commentator, predicted that XRP could reach $100 by 2037, which is approximately 13 years from now. Additionally, 24HrsCrypto Media, another crypto enthusiast, established a $100 objective for XRP.
To achieve the $100 target, XRP must increase by 59.4% from the projected $62.7326 price it could reach if it reaches Apple’s market capitalization.
