Ripple’s XRP token is one of the most popular crypto projects. XRP is one of the most utilized currencies for cross-border remittances. Despite its popularity, the asset has faced substantial hurdles over the last few years.
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While many significant crypto projects hit all-time highs during the 2021 bull run, XRP did not. The asset hit an all-time high of $3.40 in January 2018, over six years ago. XRP is currently down by 84.5% from its 2018 peak.
Why The Dull Performance?
One of the primary factors for the asset’s lackluster performance over the last few years was Ripple’s lawsuit with the SEC. The financial watchdog accused the fintech company of selling unregistered securities and filed a lawsuit against the company in December 2020. The lawsuit led to significant barriers to XRP’s price. The lawsuit recently settled, with the fintech company paying a fine of $125 million.
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Another factor that may have hampered XRP’s performance is the bearish market environment over the last two years.
Can You Turn $1000 Worth of XRP Into $1 Million By 2028?
If you purchase $1000 worth of XRP right now, you will receive about 1923.07 tokens.
According to Changelly, Ripple’s XRP token could hit a maximum price of $3.57 in 2028. At $3.57 per coin, your investment would turn into $6,865.38, a rise of 586.4%.
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Telegaon analysts are more bullish on XRP, predicting the asset to hit a maximum price of $7.84 in 2028. In this scenario, your portfolio will rise to $15,076.92.
While the growth in both instances is commendable, it is nowhere close to becoming $1 million, which may take a lot longer.