Uneblievable, XRP outrageously surged to $50 today. Yes you heard me right, but that was just a temporary surge and that too only on Gemini after the exchange listed the token. XRP has been in highlights lately.
Unless you’ve been living under a rock, you’ve heard by now about the important decision in Ripple’s favor in the SEC vs XRP. And the decision that XRP is not a security is a big deal for the entire industry.Not surprisingly, XRP has pumped since the decision. And it got me thinking. How high could it go? Can I retire on XRP? Do I hold enough XRP right now to become a crypto millionaire by 2025 or do I need some more? Let’s find out.
Ripple Historical Performance
Before I come to an exact number of XRP you need to become a millionaire, you and I need to understand where Ripple could go from here, we first need to understand where it’s been. Most of us are not whales holding hundreds of thousands of XRP. So this means we will need to see a big price move to become a Ripple millionaire.
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The total supply of XRP is 99.9 billion, with 52.7 billion in circulation. So a move from 62 cents, where it is today, up to $1.80 would give us a value higher than Tether today. It would make XRP the #3 project in crypto.
The all-time low from back in 2014 is 3.1 tenths of a cent or $0.0026. Those days are long gone. But the all-time high wasn’t even in the most recent bull market. It’s from the bull market BEFORE that one and from January 2018. The high then was $3.40. And that would be a nice 5x gain from here for us.
But could Ripple hit new all-time highs and make some millionaires? Yes, yes it can. Do you think Ripple will hit a new all-time high? Let us know in the comments below.
What do Ripple XRP Charts Say?
We asked our Technical Analysis team to look at Ripple and here’s what they had to say. XRP is trading near the support area of $0.6832. This support is comparatively weak and could most likely break which could lead to a drop in price towards $0.5516 and $0.4551. If XRP can stay above this support area, we could start seeing a move up towards $0.7562, $0.9167, $1.0994 and $1.3836.
Also, it is pretty much in a no-trade zone now, many have already started booking profits in XRP since this run up.And a small drop in BTC could lead to a bigger drop in XRP as those in the money could see Bitcoin as the better value here. Looking back at our market caps, we have $32 billion for Ripple.
Could XRP be a $1 trillion asset? You bet it could. I’m not sure its intrinsic value would get there alone. But I think with the help of the USD losing value a little faster then it could. It’s tough to imagine what a $1 trillion XRP would be like. Let alone what would the values of Bitcoin and Ethereum be when that happened? Also, that would put its price based on fully diluted market value at $10.
How Much XRP = $1 Million?
Wells Fargo predicts that before the end of the year, XRP will go up and hit a price between $100-$500. This is quite honestly, ridiculous. A big bank like Wells Fargo usually doesn’t try to play these stupid games with asset prices for engagement farming like crypto influencers do all over Twitter. Like this guy.
Yet, here we are. This claim by Wells is just plain stupid. But let’s run the numbers. At $100, that would mean you need 10,000 XRP for $1 million. At $500, you would need 2000 XRP. And Valhil Capital, a private equity firm, thinks the price will climb so much that you only will need 100 XRP to be a millionaire.
The average XRP holder would become a millionaire at an $80.97.
But would 'they' let us get rich?
Well, I calculated it…. pic.twitter.com/XMcSw5xl6N
— Lewis Jackson (@cryptolewlew) August 9, 2023
For those of you doing the quick math at home, that’s a price of $10,000 or more each. While this claim is ridiculous too, at least they had the decency to say it would take time, years before this happened although XRP is undervalued now. Not sure if they are hedging their bet there or just trying to be more sensible for this outlandish claim.
In the next 2-5 years, we see XRP having the potential to hit $50. Even that would mean Ripple is worth $5.2 TRILLION. That’s an enormous market value no matter how much the dollar’s value declines. Right now, only huge industry asset values like the value of all real estate or huge debts like the US National Debt are valued in the trillions.
Could other things get there? Yes. But it does seem like it’s way off and a long time from now. So at $50, that means you would need 20,000 XRP. But I think $10-$15 is much more realistic. Do you think Ripple could hit $50? Let us know in the comments below.
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