Ripple’s XRP token is one of the most popular cryptocurrencies in the market. The company’s legal woes with the SEC (Securities and Exchange Commission) have often barred the asset’s price. While many projects reached an all-time high during the 2021 bull run, XRP held back. The asset reached its peak in January 2018, over six years ago. However, many analysts are optimistic about XPR’s future performance.
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If Ripple’s XRP token reaches $10, you will need 100,000 tokens to have one million dollars worth. The price of 100,000 XRP right now is about $50,000. Turning $50,000 into $1 million would translate to a growth of 1900%.
When will Ripple’s XRP reach $10?
According to Changelly, XRP could breach the $10 mark sometime in 2031, about seven years from now. Telegaon, on the other hand, anticipates XRP to hit $10 a year earlier in 2030.
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There is a possibility that XRP could reach $10 earlier than Changelly and Telegaon have predicted, but there are some factors to consider. Firstly, Ripple has to gain a favorable ruling in its lawsuit with the SEC. Last year, a US district court ruled partially in favor of Ripple, stating that selling XRP to retail clients did not breach securities laws. However, 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 surge in XRP’s price and adoption.
Moreover, the asset price may take off if we enter a bull run later this year. Many analysts anticipate a bull run in 2024, fuelled by BTC’s halving event in April. A bull run and a favorable outcome in the ongoing lawsuit could push Ripple’s XRP token to new heights.