Here is the XRP price and market cap if Shiba Inu is able to increase by 10,000%

XRP could reach double digits if the market as a whole witnesses a rally that ultimately drives the Shiba Inu price up 10,000%.

Although they reside in different market segments, the price movements of XRP and Shiba Inu often rhyme in tandem with the direction of the broader cryptocurrency market. Notably, this is largely due to the correlation that exists within the crypto market as it tracks the price movements of Bitcoin (BTC).

XRP and Shiba Inu often lag behind the broader market

While both Shiba Inu and XRP have largely moved in similar directions throughout this year, a trend seen across the top 20 crypto assets, the pace of their price movements has varied significantly.

Notably, SHIB often sees steeper declines and larger resurgences due to its higher volatility as a meme coin, as opposed to the relative stability of XRP, an asset in the payments segment. Data Sentiment confirms this, with SHIB currently experiencing a 4-week volatility of 0.14, while XRP’s volatility sits at 0.054.

As Shiba Inu and XRP continue to move in the same direction for most of the year, bullish market projections around one of them could theoretically translate into similar price movements for the other , although to varying degrees.

Although the Shiba Inu has struggled in recent weeks, its price has stabilized around the $0.000017 region. Shortly after Ethereum ETFs were approved in July, when SHIB was trading at $0.000016, market analyst Ava Monaro presented the coin itself as one of multiple assets that could see gains of 10,000% or 100x.

Possible XRP price if Shiba Inu gains 10,000%

Being an integral part of the crypto market, before Shiba Inu can register a rally as large as 10,000%, the market as a whole must have already entered a bullish phase. XRP could also leverage this bull run to record its one-time gains.

In such a scenario, XRP will likely experience much smaller gains due to its limited volatility. However, assuming that XRP only sees 40% of the 10,000% increase proposed by SHIB, the altcoin would rise by an impressive 4,000%.

With XRP currently changing hands for $0.5304, a 4,000% rise would push its price to $21.7, a double-digit figure and a new all-time high. With a circulating supply of 56 billion tokens, a price of $21.7 would push XRP’s market cap to $1.215 trillion, higher than Bitcoin’s current valuation.

Interestingly, several analysts have also predicted a possible rise in the price of XRP to the $20 region. In May, Javon Marks argued that the bullish breakout of XRP could push prices between $15 and $20. Earlier this month, another market commentator, ModernInvest said it would be strange if XRP failed to reach $20 during this bull run.