The cryptocurrency market has managed to garner several fans over the past year. The market was once looked down upon and even linked to the dark web. Amidst all of this, a prominent nay sayer of the industry was Jim Cramer. Back in 2022, the TV personality was seen labelling assets like XRP, Dogecoin (DOGE) and Solana (SOL) “cons.” Ever since this comment, all these cryptocurrencies were seen soaring. This article dives into how much an investment made back in 2022 could turn into today.
Also Read: Top 3 Cryptocurrencies That Could Rally This Week
A Look Into Jim Cramer’s Comment
The host of CNBC’s “Mad Money” was seen being pessimistic about cryptocurrencies throughout 2022. Speaking about prominent assets in the market, Jim Cramer said,
“This thing or these different prices, like we put up XRP, Solana, and Dogecoin. Those are all I believe cons. Why don’t we put up like a bunch of stocks that are valued at the same size.”
Jim: "XRP, Solana, & Dogecoin…those are all cons" pic.twitter.com/UF64b1DRsk
— Inverse Cramer (@CramerTracker) December 8, 2022
Most assets, during 2022, were seen struggling due to the Terra debacle followed by the crash of FTX. Ripple’s XRP was priced at a low of $0.3837 during Cramer’s comment.
Also Read: Major Bitcoin Crash Warning: Analyst Warns BTC Could Fall to $10,000
A Notable Uptick
XRP was locked down below the $1 mark for several years. The asset was hit with several trials and tribulations, causing it to fall behind. But the last couple of months have been exceptional for the altcoin. The news of a change in the US government came as a big break for Ripple’s cryptocurrency. Over the past year alone, XRP has surged by nearly 300%.
At the time of writing, the asset was trading at $2.32 following a daily drop of 2.79%. But it is worth noting that XRP surged to a high of $3.39 earlier this year.
Also Read: Ripple Rebounds 4% to End the Week: Can XRP Target $4?
Looking back at XRP’s price in 2022 during Jim Cramer’s comment, the asset has witnessed a massive rise. An investment of $1,000 back on December 8, 2022 would bring in 2,606.59 XRP. Following a rise of 507%, the investment would be worth $6,073.36 today.