Ripple’s XRP is one of the most popular cryptocurrencies in the market. However, the token struggled to gain momentum, even when the general crypto market rallied. While XRP is up 4.2% in the weekly charts and 2.4% in the 14-day charts, it is down 1.1% in 24 hours and 10.5% over the previous month.
Also Read: Ripple XRP Eyeing 3400% Rally to $18.22: Predicts Analyst
XRP’s slow movements could be due to its ongoing lawsuit with the US SEC (Securities and Exchange Commission). The SEC alleges that Ripple selling XRP breaches securities laws. Last year, a US district court ruled that the sale of XRP to retail clients did not breach any securities laws. However, the lawsuit has entered the high court, and investors await a ruling. Recently, the SEC got the court’s permission to access Ripple’s financial documents. Investors may have seen this as a bearish development for the asset, potentially leading to XRP’s delayed growth.
How to be a millionaire with Ripple’s XRP if it hits $5?
To have one million dollars worth of XRP at $5, you will need 200,000 tokens. The price of 200,000 tokens right now is about $104,000. The rise in the portfolio’s value would translate to a growth of about 861%.
However, the question is when will Ripple’s XRP reach $5. According to Changelly, XRP may breach the $5 sometime in 2029. The platform anticipates a maximum price of $5.66 for 2029. As for 2024, Changelly predicts XRP to hit a maximum price of $0.87171282. Reaching $0.87171282 from current levels would translate to a growth of over 67%.
Also Read: Ripple: Here is When XRP Could Reclaim Its All-time High of $3.40
Telegaon, on the other hand, is more bullish on Ripple’s XRP token. The platform anticipates XRP to breach the $5 mark by 2026, predicting a maximum price of $5.18 for the year. As for 2024, the platform predicts XRP to reach a maximum price of $2.28.