Few digital assets have become as prominent this year as Ripple. The token has had quite a roller coaster ride throughout its history, first arriving in 2013, and reaching an all-time high five years later. However, volatility was ensured after US Securities and Exchange Commission (SEC) lawsuits. So, if you made a $1000 Ripple (XRP) investment 10 years ago, just how much would it be worth today?
As we previously stated, what makes this thought exercise so interesting is the tumultuous journey that Ripple has made. So, if you were a day-one investor of the token, and carried it through the legal action and the modern currency landscape, just how much would that investment be worth? Let’s explore it a bit more.
Also Read: Ripple: Up 87% in 2023, How XRP Could Pass $1 in Early 2024
What Would a $1000 Ripple XRP Investment in 2013 be Worth a Decade Later?
Ripple’s XRP token made its debut to investors in August of 2013. Then, the asset could be purchased for a price of $0.0058893 for a single XRP. Moreover, the asset has gone through tremendous highs just five years after that day. Specifically, such an investment would have been worth an astronomical $652,030 in January of 2018, when it traded at an all-time high of $3.84.
However, that is not where the asset stayed. Moreover, it would struggle after significant declines in recent years. An ongoing lawsuit with the SEC over XRP’s security status forced many to delist the asset. Amid that downfall, just how much would a $1000 Ripple (XRP) investment be worth 10 years later?
Also Read: Ripple XRP Price Prediction: New Year 2024
Interestingly, you would still be making quite a bit of money today. Indeed, the asset currently trades at $0.62 which would make your initial investment valued at $105,276 today. Although that is a far cry from what it would have been in 2018, it is still a 100 times increase over the initial investment. Additionally, what makes that even more interesting is that the asset could be poised for a massive upswing.
The previously mentioned SEC lawsuit took a turn when a judge ruled against the agency’s security statement. Thereafter, the agency dismissed its lawsuits against Ripple executives. Subsequently, the asset has already seen a rapid increase through those two developments.
Alongside a rather healthy digital asset sector heading into 2024, it could have room to ascend even higher. Moreover, it could ultimately breach the $1 mark at some point in the coming year. That feat has not been achieved by the asset since late 2021 and would mark a significant turn upward.