The XRP Token is a native cryptocurrency of the Ripple ecosystem. The token not only serves as a settlement layer but also plays a crucial role in enabling fast, secure, and cost-effective transactions within the Ripple network.
The XRP Coin has faced challenges in gaining bullish momentum after a significant price spike in July 2023, which occurred after a US district court ruled that selling XRP to retail clients did not violate securities laws, despite the SEC’s claims by the Securities and Exchange Commission.
The XRP Coin is currently trading around $0.5033 showing a decline of 1.67% in the weekly charts, and 11.48% over the previous month. However, the XRP Coin has shown an impressive growth of nearly 27.20% since January 2023.
Also Read: XRP (XRP) Price Prediction
How XRP Could Have Made You Over $5 Million
If you had diligently invested $100 weekly into XRP from September 2013 until its all-time high in January 2018, the total investment would have been $22,700. However, the astonishing growth of your portfolio would have propelled its value to over $5.3 million, an astounding increase of 23,311%!
Furthermore, if you had continued to invest $100 in the XRP Coin until today, your total investment would have amounted to $54,400. Remarkably, the value of your portfolio would have skyrocketed to $1.37 million, reflecting an astonishing growth of 2,421%.
Is it still possible to achieve millionaire status by investing in XRP?
The XRP Coin stands out as one of the most widely used cryptocurrencies for cross-border remittance. Notably, the Ripple platform has created numerous partnerships with leading global firms, establishing a robust infrastructure for seamless cross-border transfers.
As a result, the project is well-positioned for substantial growth in the future.
Also Read: Ripple (XRP): The XRP Journey to $1.40 and Beyond
However, the XRP Coin faces a significant barrier due to the ongoing legal lawsuit between Ripple and the SEC. The district court ruling partially favored the Ripple platform, but the case has now escalated to the high court, leaving investors eagerly anticipating the final verdict.
If the high court ruling aligns with the district court decision, there is a strong possibility of witnessing a substantial surge in the XRP Coin’s price and wider adoption.
How High Will XRP Coin Go in 2024?
According to our expert’s technical and price analysis, the maximum price level of the XRP Coin could reach $2.35, with an average price value of $2.13 by the end of 2024. The minimum price value of the XRP Coin can drop as low as $1.99 in 2024 if there is any bearish environment in the market.
Also Read: XRP Price Set to Surge Amid Strong Whale Holdings Despite Ripple Hack
Disclaimer
The information in this article should not be considered financial advice, and the OvenAdd platform is intended only to provide educational and general information. Please conduct your own research and consult a financial advisor before making any investment choices.
