If Bernstein's prediction comes true, Bitcoin will hit $1 million, and XRP is expected to explode

If Bitcoin reaches the $1 million predicted by Bernstein analysts, XRP could also potentially enter unprecedented price territory.

XRP has been stagnant for the past few days, trading just below the $0.50 level. Currently, XRP is trading at $0.486, having lost $1.081T in the past 24 hours. However, over the past month, XRP’s value has fallen by 8.35%.

This underperformance continues XRP’s yearly trend, with investors having lost 4.66% for holding XRP since 2023. Meanwhile, there are hopes that XRP will benefit from a vibrant cryptocurrency market, with the leading asset Bitcoin priced at $1 million.

Bitcoin reaches $1 million

Market watchers at multi-billion dollar asset manager Bernstein are among the latest industry experts to predict that bitcoin will be worth $1 million. Their recent analysis suggests that the top cryptocurrency could reach this ambitious threshold within the next nine years.

Meanwhile, former Twitter CEO Jack Dorsey proposed a more ambitious timeline during a podcast in May, arguing that Bitcoin could reach a price of $1 million within the next six years.

It is worth noting that at a price of $1 million, Bitcoin’s market capitalization could reach $20 trillion. Considering that Bitcoin typically accounts for 50% of the market, this means that the entire cryptocurrency market, including leading altcoins like XRP, could reach a combined market cap of $20 trillion.

Basically, XRP will benefit massively from Bitcoin rising to $1 million. This therefore begs the question of what the value of XRP might be in this scenario.

If Bitcoin reaches $1 million, it would need to grow 1,456% from its current $64,246. If XRP grows by a similar percentage from its current price of $0.486, it will reach about $7.56.

It is worth noting that altcoins often show characteristics of outperforming Bitcoin, which means that if Bitcoin follows this trajectory, XRP has the potential to exceed this predicted growth.

A well-known crypto community analyst has questioned the claim that it will take XRP more than six years to reach $7.56. Optimistic voices such as analyst EGRAG and cryptocurrency founder Nick predict that XRP could exceed $10 next year.

Some even believe that XRP could reach $200 to $500 by 2030, although critics consider these predictions to be overly optimistic.

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