Ripple’s XRP token is one of the most popular cryptocurrencies in the market. However, XRP has faced a significant correction entering 2024. The asset is down by 2% in the daily charts, 3.6% in the weekly charts, more than 12% in the 14-day charts, and 22.5% over the previous month. However, the asset has maintained some gains since January 2023, up 22.4% in the last year.
Ripple’s XRP token is not a new project. The asset began trading in 2013, more than one decade ago. If you had put $100 weekly into XRP since September 2013, you would have invested $54,300 till now. However, the portfolio’s value would have risen to $1.44 million. The increase in value would have translated to a growth of 2564%.
Moreover, if you had invested $100 weekly till XRP reached its peak in January 2018, you would have invested $22,700. However, the value of the investment would have been worth $5.3 million, an increase of 23,311%.
Also Read: Ripple: Here is When XRP Could Rally 1800% and Hit $10
Can you still become a millionaire with Ripple’s XRP token?
Ripple’s XRP is down by over 85% from its all-time high of $3.40, which it attained on Jan. 7, 2018. One should note that XRP did not hit a new high in 2021 when many other cryptocurrencies were hitting their all-time highs. The lack of movement for XRP in 2021 could be due to the ongoing legal case against Ripple by the US SEC (Securities and Exchange Commission). The SEC alleges that the sale of XRP breaches securities laws. However, last year, a US district court ruled that selling XRP to retail clients did not breach any law. The lawsuit has not entered the high court, and investors await a verdict. If the high court rules similarly to the district court, we may see a sudden spike in XRP’s price.
Also Read: Ripple: ChatGPT Explains How XRP Can Rally 96% and Hit $1
Furthermore, Ripple has engaged in several partnerships with financial institutions, which could positively impact XRP’s price. The fintech company is also involved in CBDC (Central Bank Digital Currency) projects. XRP also has significant global adoption as it is one of the most popular currencies for cross-border remittances.