Assessing the current market conditions, the pursuit of XRP millionaire status requires a carefully devised strategy and timely execution. In the present market scenario, seizing the opportunity to acquire XRP today is seen as a potential avenue for significant gains. However, a pertinent question arises: what quantity of XRP is necessary to amass a million-dollar fortune?
As per the latest market update, XRP is currently valued at $0.555. The coin also has a trading volume of $1.5 billion within the past 24 hours. For those aspiring to achieve a $1 million portfolio with Ripple priced at $2 per coin, the calculation is straightforward. Divide the desired target of $1,000,000 by the coin price of $2, resulting in the acquisition of 500,000 XRP.
Also read: Circle To End USDC Stablecoin Support on TRON
How much XRP do you need to become a millionaire if the price hits $2?
To determine the current cost of this strategic investment, multiply the quantity of XRP (500,000) by the existing price of $0.5553, totaling $266,650.
This fundamental calculation remains applicable for investors eyeing earnings of $2 million or $3 million when XRP potentially reaches $2. Achieving Ripple millionaire status in the long-term trading landscape is indeed feasible, albeit requiring a substantial capital foundation.
Also read: Cryptocurrency: Top 5 AI Coins That Could Rally in 2024
The Significance of the $2 Milestone
Ripple XRP holds a notable position among the top 10 digital currencies in the market. Despite Ripple’s commendable recent surge amid the prevailing market conditions, XRP has yet to surpass the critical $1 and also the $2 resistance points.
Furthermore, this milestone at $2 also signifies a crucial juncture in Ripple’s historical performance. Additionally, with an all-time high of $3.84, the $2 threshold is viewed as pivotal. This is important to unlocking Ripple’s ability to surpass its peak.