Arithmetic on today's supply, not a forecast. It assumes nothing about whether XRP could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. XRP has 63,561,462,121 XRP in circulation at $1.2960 each, which is $82.38B. Holding that supply still and putting Bitcoin's $1.61T in its place gives $25.3192 per XRP.
XRP would have to take on $1.53T of new money to get there. A 19.5x 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 XRP at that level, which is the part that actually decides a price.
$25.3192 per XRP. That is Bitcoin's current market capitalisation of $1.61T divided across the 63,561,462,121 XRP in circulation.
19.5x. XRP trades at $1.2960 today and Bitcoin's market cap is $1.61T against XRP's $82.38B.
No. It is one division: Bitcoin's market capitalisation spread over the supply of XRP that exists today. It assumes nothing about whether XRP 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 $1.61T of market cap spread over more coins gives a lower price per coin. This uses the 63,561,462,121 XRP in circulation now.