As XRP experiences a long-lasting downtrend, investors stand to benefit if the asset makes a recovery to reach its previous highs of $1.8 or $3.4, potentially leading to $1 million in earnings.
The reason for this is that the current drop in XRP’s value offers a chance for investors to buy it at a lower cost. As a result, many investors are excited to calculate the amount of XRP needed to reach $1 million when it returns to its previous highs.
In January 2018, XRP reached its highest price ever at $3.4, showing its potential for big gains. Even after dropping from that high, XRP managed to bounce back and reach $1.8 in April 2021.
Read article: XRP Surpasses BTC and ETH in Daily Volume, Transacts Over 2.6Billion
XRP Reaching $1.8
If the asset returns to these previous highs, investors would need fewer XRP tokens to reach a $1 million investment. Specifically, when XRP is priced at $1.8, 555,555 XRP tokens would be valued at $1 million.
Notably, at the current XRP price of $0.5016, these 555,555 XRP tokens are worth $278,055. So, if XRP were to reach $1.8 again, an investor would need to acquire 555,555 XRP at today’s price for $278,000 to have $1 million in the future potentially.
If the asset reaches this price again, those who hold it will see a 259% return on their investment. It’s crucial to remember that even though XRP has delivered better returns before, past success doesn’t guarantee how it will perform in the future.
XRP Reaching $3.4
For investors aiming for a $1 million target, the higher price of $3.4 would need a smaller initial investment. If XRP reaches its all-time high of $3.4, those holding 294,117 XRP would have $1 million.
To gather 294,000 XRP tokens at the current prices, investors need to invest $147,205. If the price reaches $3.4, the rate of increase would be 579%, which is lower than XRP’s rapid growth from late 2017 to January 2018.
Nevertheless, despite previous price increases, investors are currently unsure about which way XRP’s price will go. In this uncertain situation, some analysts have made positive predictions. For example, one chartist named EGRAG has suggested that XRP might reach $1.4 in the coming days.
