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$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.