Dogecoin could rise to $10,000. Here is the price and market cap of XRP

If there were a market-wide rally that ultimately led to a Shiba Inu price increase of 10,000%, XRP could potentially reach double-digit figures.

Despite belonging to different market segments, the price movements of XRP and Shiba Inu tend to coincide with trends in the cryptocurrency market as a whole. Notably, this is mainly due to the correlation that exists within the cryptocurrency market as it follows the price movements of Bitcoin (BTC).

XRP and Shiba Inu often follow trends in the overall market

While Shiba Inu and XRP have followed roughly similar trends throughout the year, a trend also observed among the top 20 crypto assets, their price change rates vary greatly.

It is worth noting that SHIB tends to fall and rise more than XRP due to its high volatility as a meme coin, while XRP is relatively stable as an asset in the payment field.

This is corroborated by data from Sentiment, with SHIB’s current 4-week volatility at 0.14, compared to XRP’s at 0.054.

Since Shiba Inu and XRP tend to move in the same direction most of the time, bullish market expectations for one of the assets could theoretically lead to similar price movements in the other as well, albeit to different degrees.

Even though Shiba Inu has been having difficulties recently, its price has stabilized around $0.000017. After the Ethereum ETF was approved in July, when SHIB was trading at $0.000016, market analyst Ava Monaro listed the meme coin as one of several assets that could potentially gain 10,000% or 100x.

Possible price of XRP if Shiba Inu rises 10,000%

For Shiba Inu to achieve a massive gain of 10,000% as part of the cryptocurrency market, the entire market must have entered a bull run.

XRP could also take advantage of this bull run to realize its unique gains.

In this case, XRP would likely realize lower gains due to its limited volatility. However, assuming XRP only achieves 40% of the 10,000% growth proposed by SHIB, the altcoin would have grown by 4,000%.

Considering that XRP is currently trading at $0.5304, a rise of 4,000% would take its price to $21.7, becoming a double-digit figure and a new all-time high. At a circulating supply of 5.6 billion tokens, a price of $21.7 would give XRP a market cap of $1.215 trillion, higher than Bitcoin’s current valuation.

Interestingly, multiple analysts also predicted that XRP price could rise to $20. In May, Javon Marks said that a bullish breakout for XRP could push the price towards $15-20. Earlier this month, another market commentator, ModernInvest, said it would be strange if XRP failed to reach $20 in this bull run.

Disclaimer: This content is for reference only and does not constitute financial advice. The opinions expressed in this article may contain the personal opinions of the author and do not necessarily reflect the views of The Crypto Basic. Readers are encouraged to perform adequate research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.