XRP has the potential to make millionaires out of investors, but this could only materialize if the cryptocurrency records rallies to lofty price targets against the appropriate investment capital.
Some XRP proponents have continued to hold onto their tokens, hoping to see a price appreciation that could bring them the much-coveted millionaire status. However, raking in $1 million with XRP would depend on two factors: the capital invested and the rate at which XRP skyrockets.
XRP already has a history of massive price surges, further bolstering the confidence proponents have in its potential to record massive gains. For instance, the token rallied from $0.005 in February 2017 to the ATH of $3.31 in January 2018, marking a 66,100% rise in a year.
With the price surge to $3.3, an investor who purchased XRP with a mere $1,515 when it dropped to $0.005 in February 2017 witnessed their investment skyrocket to $1 million in January 2017. Despite the bigger roadblocks to similar surges, some investors remain confident amid prevalent price projections.
XRP Needed to Make $1M at $11.26, $28.20 and $56.55
One such projection sees XRP clinching $11.26, which represents a 1,978% rise from its current price of $0.5418. Should XRP hit $11.26, an investor would need to hold 88,809 XRP tokens to sit on a $1 million investment. They could get these tokens for $48,116 at the current price.
For those who believe XRP could reach the $28.20 projected target, holding 35,460 XRP at this price point would bring them $1 million. These 35,460 tokens are currently worth $19,212. Meanwhile, if XRP ever hits $56.55, an investor would require 17,683 tokens to see $1 million. They could get the 17,683 tokens now for $9,580.
XRP Needed to Make $1M at $156.36 and $521.69
While some market participants believe these two-digit price projections might be too ambitious for XRP, others already have their eyes set on loftier three-digit targets, such as $156.36 and $521.69. Multiple commentators have dismissed these targets as wishful thinking, but this has not stopped the anticipation.
Investors looking to see XRP at $156.36 would need to hold only 6,395 XRP to make $1 million. Notably, they could procure the 6,395 XRP tokens for $3,464. For the ambitious, a mere 1,916 XRP would be worth $1 million. Interestingly, the 1,916 tokens currently go for $1,038.
Projected Timeline for These Price Targets
Meanwhile, the major issue rests with XRP’s ability to claim these price targets, as even the lowest projection would require a massive price appreciation. To this end, crypto exchange platform Changelly recently projected a timeline for the asset to reach the targets.
The Changelly team expects XRP not to hit a double-digit price until seven years later, in 2031. They believe XRP would clinch $11.26 in December 2031, further expecting the asset to rise 150% from this value to $28.20 in December 2033.
Moreover, the team sees XRP at $56.55 in January 2040, about 16 years from now. According to them, XRP could further skyrocket to a three-digit price in 2040 shortly after hitting $56.55 at the start of the year. They expect the asset to claim $156.36 in April 2040 and $521.69 in December 2040.
Nonetheless, investors should understand that there is no guarantee that these projections would materialize. While XRP has a history of massive surges, past performance does not guarantee future results. As a result, it is important not to consider these projections as investment advice.