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Market participants might require very little XRP to make profits of $10,000, $100,000, and $1 million if XRP ever secured a 1,000x price increase.
The crypto market has reached a state of flux following the impressive price run recorded on Aug. 8. Notably, Bitcoin (BTC), the leading crypto asset, spiked to a high of $62,729 before facing resistance. Despite a mild correction that followed, BTC maintained an 11.9% intraday gain.
XRP Accumulation Amid Correction
However, XRP was already on the verge of its own unique retracement at the time the broader market picked up pace, only seeing a mild 2.83% rise on Aug. 8. XRP has now corrected some of the gains it amassed on the back of the final ruling in the Ripple vs. SEC lawsuit on Aug. 7.
At press time, the crypto asset has now dropped below the $0.60 psychological threshold, presenting another opportunity for investors to accumulate more tokens at discounted prices. As recently reported, XRP shark and whale addresses have procured over 662 million tokens in August alone.
This accumulation spree is a product of renewed sentiments, as investors anticipate XRP will eventually stage a breakout rally. Multiple market analysts have projected this rally, with varying growth extents. Earlier this month, market pundit Mickle called attention to factors that could potentially lead to a 1,000x rise for XRP.
While this 1,000x increase is near unimaginable, such a rally is capable of transforming modest holdings to impressive heights. The Crypto Basic recently provided an assessment of how much XRP a market participant would need right now to secure substantial profits if XRP spiked 1,000x.
XRP Needed to Make $10K at a 1,000x Rally
For context, a 1,000x rally would push XRP’s price to an audacious $574. For an investor to secure $10,000 should XRP hit $574, the individual must hold 1.74 XRP tokens. Interestingly, these 1.74 tokens are worth a meager $1 at current prices.
XRP Needed To make $100K at a 1,000x Rally
Meanwhile, those looking to hit higher investment levels, such as $100,000, might need to invest more. To clinch this $100,000 figure if XRP reaches $574, a market participant must hold 174.2 XRP tokens. These XRP tokens are valued at $100 at prevailing rates. Such an investment would present a profit of $99,900.
XRP Needed To Make $1M at a 1,000x Rally
Lastly, to hold $1 million when XRP hits the ambitious $574 target, an investor must possess 1,742 XRP. Notably, such an investor can accumulate these tokens for just $1,001 at current prices. This would mark a return on investment (ROI) of $998,999.
While this assessment reveals the possibility of mouthwatering gains, it is important to note that the chances of this appreciation are incredibly slim. A $574 price would lead to an XRP market cap of $32.2 trillion. This is much greater than the valuation of Gold, the world’s largest asset. Such a market cap is highly improbable.