• Bitcoin soared from $2 in 2012 to $1200 by 2014, sparking comparisons to XRP.  
• XRP needs a $120 trillion market cap to hit $1200, equaling 93% of global fiat currency.  
• Experts cite adoption and market dynamics as key to XRP’s long-term price growth.  

Inspired by Bitcoin’s surge from $2 to $1200 in just two years, a market analyst’s question has sparked debate: Could XRP replicate this extraordinary feat? While proponents point to XRP’s potential, skeptics argue that a $1200 price target for XRP faces significant hurdles.

Market analyst Steph’s latest tweet triggered discussions, noting the striking similarities in price trends between Bitcoin and XRP, asking, “What’s stopping XRP from reaching $1200?” Some found the comparison compelling; others, however, countered by highlighting the significant difference in market capitalization between the two cryptocurrencies.

Critics felt that XRP’s surge to $1200 is an unrealistic prediction, considering that it would require a market cap of $120 trillion—nearly 93% of the global M2 currency supply. Such a scenario, according to them, is highly improbable.

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Global Currency Supply and Its Impact on XRP: Understanding the Numbers

The cryptocurrency market has seen its fair share of success stories, and Bitcoin’s rise serves as a prime example. As cryptocurrencies gain mainstream acceptance, many believe that altcoins are set to replicate this success. This trend has inspired analysts to question whether XRP could achieve similar milestones.

However, the path to achieve this will not be an easy one. At XRP’s max supply, reaching $1200 would push its market cap to a staggering $120 trillion. As one user pointed out, the total global M2 currency supply in Q2 2024 was $129 trillion, meaning 93% of all fiat currency worldwide would need to flow into XRP.

Despite these challenges, enthusiasts remain hopeful about XRP’s potential in specific sectors, like cross-border payments, where the cryptocurrency has already made significant strides. 1 However, experts caution that fundamental market dynamics and adoption rates must align to support such an astronomical price increase.