XRP is once again trading below the critical $3 support level, having dropped 4% on October 7 and triggering a “death cross” seen as confirmation of medium-term bearish momentum.
Its market cap is also down 2.54% on the weekly and 3.41% on the daily chart, sitting at $172.22 billion just days after the cryptocurrency managed to blow past BlackRock in terms of value by climbing to almost $183.4 billion.
However, trading at $2.87 at the time of writing, XRP is still one of the best performers this year, having surged nearly 440% over the past twelve months.
XRP valuation
XRP hit its highest market capitalization, nearly $210.43 billion, on July 22, 2025. In the same month, its price had risen over 35% from its June levels, hovering around $3.55 as the asset reached its valuation peak, with about 59.27 billion tokens in circulation, as per CoinMarketCap data retrieved by Finbold.
Today, XRP has a circulating supply of approximately 59.87 billion tokens since Ripple’s escrow schedule sees 1 billion tokens unlocked each month, of which roughly 70% are typically re-escrowed, though this is not a fixed protocol rule.
As the total cap is set at 99.98 billion XRP, some 40.1 billion tokens are yet to be unlocked. Even if Ripple didn’t choose to re-lock any portion of the future monthly releases, it would take roughly three years and a quarter for the rest of the supply to start circulating.
This would lead to an annual inflation between 5% and 6% over the said period, slowly decreasing each year as the issuance grows. The result would be a fully diluted market cap of $287.95 billion, considering current prices.
In other words, the price would drop to $1.72 with the entire supply circulating, implying a 40.1% downside from the current levels.
Lastly, at today’s price of $2.87, XRP’s market capitalization sits around $172 billion. To revisit its most recent all-time high of $3.65 on July 18, 2025 (CoinGecko data), the token would need to reach a market cap of roughly $218.5 billion.
To reclaim its January 2018 peak of $3.84 (CoinMarketCap data), XRP would require an even larger valuation of about $229.9 billion, underscoring how much capital inflow would be necessary for a full return to record levels.
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