Here’s When Holding 40,000 XRP Can Become $100M
thecryptobasic.com 30 August 2024 12:41, UTC 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.
