Ripple’s XRP Is Worth More Than Solana: Bill Morgan Reveals Shocking Miscalculation
Mustafa Mulla30 Nov 20241 min read
Ripple’s XRP has just flipped Binanace (BNB) to become the 5th largest crypto with its price hitting $1.91 and a market cap close to $109 billion. This surge comes after Ripple’s favorable ruling in its case against the SEC.
Pro-XRP lawyer Bill Morgan highlighted Ripple’s strong financial position, noting that the company could easily cover its legal penalties. He also flagged a potential market cap miscalculation, suggesting XRP might have already surpassed Solana, even if some tracking platforms haven’t updated their rankings yet.
Ripple Is In a Good Position
Ripple frequently releases XRP from its escrow account to maintain liquidity and control supply. Morgan pointed out that Ripple recently released 200 million XRP tokens, which, if sold, could cover the penalty imposed by Judge Torres three times over at current prices.
Morgan emphasized that XRP sales generate significant revenue for Ripple. His remarks were backed by the XRP community, which views Ripple as well-positioned to deal with its legal battle with the SEC.
Is XRP Undervalued?
Morgan also identified an interesting discrepancy in XRP’s market cap calculations. He explained that with fewer than 38 billion XRP tokens still in escrow, XRP’s actual market cap should have been nearly $118 billion when its price hit $1.90.
This is significantly higher than the $107 billion reported by platforms like CoinMarketCap.
If Morgan’s calculations are correct, XRP has already surpassed Solana’s market cap of $116.45 billion. However, this achievement isn’t yet reflected on popular crypto tracking sites, leaving investors waiting for an update. Such a milestone would further cement XRP’s standing as a leading cryptocurrency.
XRP’s latest milestone shows that sometimes, the biggest wins are the ones hiding in plain sight.
