Ripple CTO’s $0.005 XRP Buy: 1 Million Details

Ripple CTO 1Million Dollar Purchase

Ripple CTO David Schwartz recently disclosed his father’s purchase of over a million XRP tokens priced at $0.005 in 2014. This truth comes into light as a response to Alex Cobb’s question X (formerly Twitter).

Alex Cobb, a prominent figure and trader within the XRP community took to X on the 3rd of October 2023 to inquire from the community about the lowest purchase prices for the asset.

Among the responses mentioning $0.11, $0.13, and $0.17, the most remarkable disclosure came from David Schwartz. He revealed that his father acquired over a million XRP token priced at $0.005 back in April 2014.

This disclosure stirred reactions within the community as many couldn’t help but think on the remarkable returns from such investment. Notably, this price represents one of XRP’s historical lows, as confirmed by data from April 2014.

Also read: XRP Community Celebrates as Ripple Showcases Ad at EPL

Ripple 10,048% Investment Returns

For better understanding, consider this scenario: buying 1 million XRP tokens at $0.005 each. If held until XRP’s all-time high (ATH) of $3.3 in January 2018, the value would have surged to an impressive $3.3 million, a remarkable profit of over $3.2 million.

However, if this investor chose to hold onto these assets until the present day, their current value would stand at approximately $507,000, given XRP’s current price of $0.5074; an increase of 10,048% from January 2018 drop. 

XRP 24 hours Price Variation

David Schwartz’s disclosure serves as a compelling reminder of the potential rewards associated with entering a market early. Like many cryptocurrencies, XRP has proven its resilience over time, delivering substantial returns to early adopters.

 Remarkably, the asset has seen an 18,126% increase from its all-time low, even amidst recent market volatility which leaves investors pondering the pivotal question: does XRP have the potential for another significant upswing? 

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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