Cameron Fous, a trader with over 20 years of experience, recently took to X and shared his journey of becoming a crypto millionaire. Fous spent two decades trading forex and stocks before retiring in 2018. However, in late 2019, a friend asked Fous to buy Ripple’s XRP, which, at the time, was trading at around $0.20.
Fous put $20,000 into XRP, receiving about 100,000 tokens. XRP’s price quickly went from $0.20 to $1, turning the initial investment into $100,000. After about 420 days, the investment grew to $1.7 million, a rise of about 8400%.
Also Read: Ripple: Can XRP Rally 56% and Reach $1 in March 2024?
Ripple’s XRP token is currently following the market-wide rally. XRP’s price is up by 16.4% in the weekly charts, 13.7% in the 14-day charts, and 25.7% over the previous month. Moreover, the asset has rallied by nearly 72% since March 2023.
XRP’s latest rally is likely due to Bitcoin’s (BTC) stellar performance over the last few weeks. BTC’s rally is probably due to increased inflows into spot BTC ETF (Exchange Traded Fund) products.
Will Ripple’s XRP hit $1 soon?
According to CoinCodex, XRP will climb to $0.842209 by Mar. 17, 2024, a rise of about 31.6% from current levels. However, the platform anticipates XRP’s price to fall after it hits $0.842209. CoinCodex predicts XRP’s price to drop to $0.67 by April.
Also Read: Ripple (XRP) Up 20% This Week, Stage Set for New ATH In 2024?
Changelly also does not anticipate Ripple’s XRP to breach the $1 in March. The platform expects the asset to hit a maximum price of $0.824374 this month, which it could attain by Mar. 15. However, Changelly also anticipates XRP’s price to drop below $0.70 by the end of this month.
As for the rest of the year, Changelly predicts XRP to hit a maximum price of $0.96850314 in 2024. However, the platform anticipates the asset to breach the $1 mark by 2025.