Arithmetic on today's supply, not a forecast. It assumes nothing about whether Ondo could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. Ondo has 4,872,782,628 ONDO in circulation at $0.3455 each, which is $1.68B. Holding that supply still and putting XRP's $85.54B in its place gives $17.5543 per ONDO.
Ondo would have to take on $83.85B of new money to get there. A 50.8x move is large: it happens, and it usually needs the whole market to grow instead of one coin to take share from another.
Supply is held still, and in practice it moves: coins are minted, burned and unlocked, and every one of those changes the price a given market capitalisation implies. The figure also says nothing about whether the money exists to buy ONDO at that level, which is the part that actually decides a price.
$17.5543 per ONDO. That is XRP's current market capitalisation of $85.54B divided across the 4,872,782,628 ONDO in circulation.
50.8x. Ondo trades at $0.3455 today and XRP's market cap is $85.54B against Ondo's $1.68B.
No. It is one division: XRP's market capitalisation spread over the supply of ONDO that exists today. It assumes nothing about whether Ondo could attract that much money, and it holds the supply still when in practice supply changes.
It sets it. Market cap is price times circulating supply, so the same $85.54B of market cap spread over more coins gives a lower price per coin. This uses the 4,872,782,628 ONDO in circulation now.