Ripple’s XRP token seems to be consolidating around the $0.50 level. The asset has struggled to gain momentum after a price spike in July 2023, following a US district court ruling that selling XRP to retail clients did not breach securities laws, as opposed to the SEC’s (Securities and Exchange Commission) claims.
Also Read: Ripple XRP: $100 Investments Turns Into $1.4 Million in Feb 2024
XRP is currently down 5.7% in the weekly charts, 4.4% in the 14-day charts, and 10.7% over the previous month. Nonetheless, the asset is still up nearly 27% since January 2023.
You could have made over $5 million with Ripple’s XRP.
If you had invested $100 weekly into XRP from September 2013 till the asset reached its all-time high in January 2018, you would have put in $22,700. However, the portfolio’s value would have skyrocketed to over $5.3 million, a rise of 23,311%
Moreover, if you had continued to invest $100 in Ripple’s XRP till today, you would have put in $54,400. The portfolio’s value, in this case, would have risen to $1.37 million, a growth of 2,421%.
Can you still be a millionaire with XRP?
Ripple’s XRP is one of the most popular currencies for cross-border remittance. Moreover, Ripple has secured several partnerships with global firms to undertake cross-border transfers. Hence, the project has a solid foundation for future growth.
Also Read: Ripple: ChatGPT Explains How XRP Can Rally 96% and Hit $1
However, XRP faces a barrier with the ongoing legal lawsuit between Ripple and the SEC. Although a district court ruled partially in Ripple’s favor, the case has entered the high court, and investors await a verdict. If the high court rules similarly to the district court, we may see a surge in XRP’s price and adoption.
