XRP, the third biggest crypto on the planet, was down more than five percent on Tuesday February 13 after seemingly recovering from last week's low prices at around $0.60
The digital currency’s market capitalization is now hovering around the $42billion mark and remains far below its all-time high of $145.5billion.
Yes, this figure is absurd! This would mean that the market cap of Ripple would be around $27 Trillion. It is worth noting that the total value of all gold ever mined is about $7.8 trillion.
But how did we reach a price prediction of $692.30 per XRP?
This value is obtained by using the assumption that Ripple (XRP) will be the coin and system of choice for all cross-border settlements by financial institutions. The daily estimate of all cross-border payments across the globe stands at $9.8 Trillion. The theory also states that there is $27 Trillion parked in cross-border transnational accounts. If Ripple (XRP) were to be the medium of choice for that $27 Trillion, then we get to $692.30.
