XRP is presently valued at $0.49 and has experienced a predominantly bearish trend over the past month. Despite emerging victorious in the SEC lawsuit, with the judge ruling it out as a security, it has failed to gather momentum. Following the verdict, the cryptocurrency briefly surged to $0.80 but subsequently faced consistent declines in its market performance.
Nevertheless, numerous analysts anticipate a bright future for XRP, foreseeing the potential for it to achieve four-digit values in the long term. This optimism is rooted in Ripple’s commitment to offering blockchain support for Central Bank Digital Currencies (CBDCs) on a global scale.
Although the forecasts appear notably optimistic, aiming for a price exceeding $1,000 appears overly optimistic. Global bear markets are exerting a firm hold, causing both stocks and cryptocurrencies to struggle for traction in the markets. To explore the most favorable scenario, let’s examine XRP’s potential to reach its historical peak of $3.40, a price it achieved in January 2018. In this article, we will delve into the required investment amount to attain a $1million return, should XRP reclaim its all-time high of $3.40.
How Much Money It’ll Cost to Make $1 Million If XRP Climbs ATH of $3.40
To reach a million-dollar return should XRP reclaim its all-time high (ATH) of $3.40, investors would need to hold approximately 295,000 XRP tokens in their wallets. With the current price of $0.49, an investment of $130,000 would enable investors to acquire nearly 295,000 XRP tokens. If the cryptocurrency manages to surge to its ATH of $3.40, the initial $130,000 investment in these 295,000 tokens could potentially grow to a value of $1 million.
Nonetheless, there is no guarantee that XRP token will reclaim its ATH anytime soon. The cryptocurrency markets are highly volatile and cut both ways, delivering deep losses. Thorough research is then advised before taking an entry position in the token at current times.