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Holders of at least 10,000 XRP would become millionaires if multiple predictions of a rally to a three-digit price come to reality.
Following in the footprint of several other prominent analysts, crypto expert The Crypto Asset Guy has tipped holders of up to 10,000 XRP to become millionaires. His assertions insinuate that the XRPL native token would trade at a new all-time high sometime, possibly $100.
Notably, multiple analysts have predicted that XRP would trade at least at $100. For instance, market commentator Xena argued on last week that the surging bullish sentiments around the XRP community would propel the asset’s price to topple $100.
Analyst Zain Haider shares a sentiment similar to Xena’s. However, he pointed to a different reason for XRP’s potential surge to $100. According to him, the surging utility, partnerships, and market demand of the XRPL native token would see the asset hit three digits in a few years.
If XRP trades at $100, then holding 10,000 XRP would make one a millionaire, the assertion recently made by Crypto Asset Guy. Interestingly, acquiring 10,000 XRP at the current price would cost just $5,370. Such a gain would mark an 18,900% return for an XRP holder who buys at the current price.
An enthusiast who bought XRP at its lowest point this year would need just $4,198 to acquire 10,000 XRP. The asset fell to a yearly low of $0.4198 in early July, presenting investors with a buying opportunity. Holding 10,000 XRP at that price when it hits $100 would make a 24,000% return on investment.
XRP’s Recent Struggles
However, one could say XRP’s profitability in recent years has been underwhelming. Its last notable bull run was in 2018, having missed the previous bull cycle in 2021 due to regulatory hurdles. Meanwhile, the rest of the market advanced further.
For context, Solana grew 10,000% from its price late in 2020 to its all-time high of over $200, while Shiba Inu surged over 1,000,000% in this time frame. However, XRP peaked in the 2021 bull run after managing a near 800% increment from its $0.24 price in October 2020.
The XRP price continued to underperform despite the partial Ripple victory over the US Securities and Exchange Commission (SEC) earlier in August. The asset last traded above $1 in December 2021 and has ranged between $0.93 and $0.4 in recent years.
However, the asset had a history of outstanding performance before the regulatory tussle with the SEC. XRP pumped a staggering 138,000% from its all-time low of $0.002802 to its all-time high of $3.84. Notably, the high-utility asset has maintained its position in the top ten crypto assets by market cap, stamping its relevance in the sector.
XRP Gaining Bullish Momentum
The Ripple victory against the SEC has been a major driving force in the resurgence of the XRPL ecosystem. With the US regulator failing to classify XRP as a security, skepticism around its adoption has declined.
Ripple’s increasing relevance in the transactional settlement industry has also built bullish momentum around the XRPL and XRP. Ripple collaborated with the SBI Digital Community in August to boost the use of XRPL in the Web3 sector. The fintech firm also partnered with Futureverse to provide crypto custody services.
Among other global adoptions, Ripple has also ventured into the stablecoin sector. Ripple’s CEO Brad Garlinghouse said that the stablecoin, RLUSD, would debut in weeks.