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Crypto investors holding 40,000 $XRP could see their investment surge to $100 million if the token records an astronomical rally.
A federal judge in New York recently granted the heart desire of many $XRP investors by issuing the final verdict in the SEC v. Ripple lawsuit. The legal decision, which gave the parties partial victory, ended the multi-year lawsuit in the Southern District of New York (SDNY).
$XRP Performance Post Final Verdict
Expectedly, $XRP reacted positively to this development, surging to $0.6579 per token. This marks a surge of 51.76% from its monthly low of $0.4335, registered on August 5.
Although many investors expected $XRP to surge beyond this level following the conclusion of the Ripple lawsuit in the SDNY, the token’s price action has been affected by FUDs, especially speculations about a potential appeal in the lawsuit. Some legal experts, including James “MetaLawMan” Murphy, predicted that the SEC and Ripple would appeal Judge Analisa Torres’ decision.
Amid this speculation, $XRP has witnessed a massive correction, plunging below the $0.60 mark. At the time of writing, $XRP trades at $0.5866 per token, down 1.3% over the past 24 hours.
EGRAG Sets $2,500 Target for $XRP
Despite $XRP’s continuous underperformance, several market watchers have set ambitious targets for the token. In particular, popular market watcher EGRAG projected that $XRP could reach an ambitious target of $2,500.
As reported earlier, his forecast was inspired by insights from a well-connected banker, who suggested that holding 40,000 $XRP could potentially turn into $100 million if the token’s price eventually hits the $2,500 target.
Following the projection, EGRAG advised investors to accumulate $XRP to position themselves for an imminent rally that might stem from the asset’s potential to address liquidity challenges during an economic downturn.
At the time of the forecast, $XRP was trading at $0.6484; thus, hitting the $2,500 mark required a 385,464% surge. With $XRP currently changing hands at $0.5866, the token must surge 426,084% to hit the $2,500 target.
How 40,000 $XRP Can Be Worth $100M
Meanwhile, the recent price decline allows investors to accumulate $XRP at discounted prices. At press time, these 40,000 $XRP cost about $23,464.
Therefore, if $XRP eventually hits the $2,500 target, these 40,000 tokens acquired at $23,464 could increase in value to $100 million.
Reaching the $2,500 target requires $XRP to record substantial gains, representing a leap of 426,084% from the current price. The possibility of $XRP achieving this milestone in its lifetime remains questionable. Consequently, investors should note that this article is for informational purposes, not investment advice.