Gold recently experienced one of its most significant daily performances in months, with its global market capitalization increasing by an estimated $765 billion in a single trading session. This substantial rise has led analysts to draw comparisons with digital assets, exploring how such a gain might translate for cryptocurrencies like XRP.
Gold's Market Value Surged by Over $700 Billion in a Day
In the past week, gold prices have shown a strong recovery from a low of $3,928 per ounce recorded on November 4. The precious metal has climbed above $4,000 and has achieved four consecutive daily advances. On November 10, gold saw its most significant single-day increase since early May, rising by 2.85% to close near $4,115 per ounce.
Data from the World Gold Council indicates that global above-ground gold reserves currently amount to approximately 216,265 metric tons, which is equivalent to 6.954 billion ounces. Using these figures, the estimated market capitalization of gold at the beginning of November 10 stood near $27.85 trillion, based on an opening price of $4,005 per ounce.
By the end of that day, the total value of these reserves reached approximately $28.62 trillion, representing a one-day increase of $765.1 billion. This sharp expansion highlights gold's enduring strength as a global store of value amidst evolving market conditions.
XRP's Market Potential Under a Similar Condition
For context, even the entire cryptocurrency market, which has a valuation of roughly $3.48 trillion, has not witnessed a single-day increase on the scale of gold's $765 billion surge. The largest daily market-wide gain observed in recent weeks was approximately $203 billion, which occurred on October 12 during a 5.57% rise across major tokens.
On November 10, XRP also demonstrated strong performance, appreciating by 6.76%, surpassing gold's percentage gain. However, due to its smaller overall valuation, this move resulted in a more modest addition of $9.6 billion, bringing its market capitalization to $151.82 billion.
To assess the implications of a comparable $765 billion rise for XRP, it is useful to apply the same scale of market growth. If XRP's valuation were to expand by that amount from its current level of about $146.88 billion, its market capitalization would reach approximately $911.88 billion.
With an estimated 60 billion XRP tokens in circulation, a total valuation of $911.88 billion would correspond to a theoretical price of roughly $15.20 per token. It is important to note that this figure does not represent a forecast but rather a mathematical extrapolation based on gold's one-day performance.
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This comparison underscores how market capitalization changes directly impact token pricing in digital assets with finite supplies. While such a significant increase is unlikely to occur within a single trading session, it offers insight into the potential scale of XRP's valuation under extreme liquidity conditions.
Analyst Expectations and Broader Market Context
Notably, several market analysts have cited $15 as a realistic long-term target for XRP under favorable conditions. Commentators, including Vincent Van Code, CryptoInsightUK, and EGRAG Crypto, have suggested similar price levels, referencing macroeconomic trends and increasing institutional adoption.
While XRP's daily market movements continue to be influenced by broader crypto volatility, gold's recent surge serves as a valuable benchmark for understanding how large-scale capital inflows could affect digital asset valuations if comparable momentum were to reach the sector.
Gold's $765 billion daily increase emphasizes the magnitude of value shifts that can occur in high-liquidity markets. Applying the same growth scale to XRP would place its price near $15, aligning with some analysts' long-term projections.
Although such an outcome remains hypothetical, it illustrates the vast potential that large-scale investment inflows could have on digital asset capitalization.