- Analysts float a new $7 price target for XRP.
- The target is based on XRP’s market cap matching Elon Musk’s wealth.
- This unconventional metric fuels speculation alongside X payments launch rumors.
Bullish sentiments around XRP have led crypto analysts to make interesting comparisons for the cryptocurrency. One such comparison is between the digital asset and the world’s richest individual, Elon Musk. According to analysts, XRP’s token price would surge to $7 if its valuation were to rise to Musk’s level.
How does XRP compare with Elon Musk?
For context, data from CoinMarketCap revealed that XRP’s market capitalization at the time of writing was $180 billion, with a price of $3.02 per XRP token.
Only two cryptocurrencies, Bitcoin and Ethereum, boasted higher valuations than XRP, with $2.25 trillion and $526 billion, respectively.
Related: XRP Breaks Above $2.90, Analysts Eye $3 as the Next Big Test
What’s the Math Behind the Musk Metric?
The calculation itself is straightforward. XRP’s market capitalization is currently valued at approximately $180 billion. According to Forbes, Elon Musk’s real-time net worth stands at $415.6 billion. For XRP’s total value to equal Musk’s fortune, it would require a ~150% increase from its current level.
Based on a circulating supply of 59.61 billion tokens, this math leads directly to the $7 price target.
Why is This Narrative Gaining Traction?
This unconventional valuation is being fueled by persistent speculation that Elon Musk’s “everything app,” X, could one day integrate crypto payments. The XRP community has long promoted its token as a leading candidate for such a use case, making any connection to Musk a powerful catalyst for market hype.
Given XRP’s current valuation and its 59.61 tokens circulating supply, the cryptocurrency would need to surge about 150% to match Musk’s current valuation. That would leave XRP with a $7 price target, one that many analysts believe the cryptocurrency could achieve before the end of 2025. One such analyst, Mario Nawfal, expects XRP to surpass this target by December after predicting that the altcoin will trade for $10 by the end of the year.
There are more optimistic predictions for XRP, including one by Alex Cobb, a renowned community member. Cobb predicts that the top altcoin will trade for $22 by December, which would cause the cryptocurrency’s value to reach $1.3 billion.
Related: XRP (XRP) Price Prediction For September 10
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Source: https://coinedition.com/xrp-price-target-elon-musk-valuation/