Market participants could see their XRP investments increase by impressive margins if XRP ever reclaims its all-time high of $3.70.
XRP has continued to face bearish pressure amid the ongoing market uncertainty. While the rest of the market has also suffered similar declines in recent times, with Bitcoin (BTC) dropping below $60,000, XRP’s bearish situation is more concerning due to its earlier underperformance.
XRP’s Underperformance
Notably, from Q4 2023 to Q1 2024, the broader market recorded an impressive uptrend. This uptrend saw BTC breach its all-time high earlier than expected, with altcoins like Ethereum (ETH) and Solana (SOL) engineering impressive gains to recoup most of the bear market’s losses.
However, XRP failed to record any significant growth within this period. This trend reminded market participants of XRP’s general underperformance in the 2021 bull run, as it failed to reach a new all-time high. Nonetheless, some analysts attribute the 2021 underperformance to the SEC’s lawsuit against Ripple.
They argue that, with XRP now declared a non-security and the SEC lawsuit finally over, XRP could be gearing up for an impressive run, eventually reclaiming its all-time high of $3.70 or possibly overtaking it.
ROI if XRP Reclaims $3.70 ATH
Amid these speculations, market commentator Crypto Assets Guy recently assessed how much an investor’s XRP stash could increase if XRP witnessed such a surge. Notably, his assessment pointed out the returns that could be in store for investors if they capitalize on the recent XRP drop.
For context, XRP has dropped from the $0.74 yearly peak as the broader market corrects, currently trading for $0.5675. Nonetheless, some see this dip as a proper buy opportunity, expressing confidence in XRP’s ability to engineer a recovery push now that it boasts legal clarity.
Crypto Assets Guy recently pointed out that if a market participant purchases XRP at the current price around $0.56, a surge in value to the all-time high of $3.70 would see such individual’s investment skyrocket by up to 6.6x. Notably, XRP would need to increase by 560.7%, or about 6.607x, from its current price to reach $3.70.
To put things into perspective, if an investor committed $10,000 into XRP at the current price, they would procure 17,621 tokens. Should XRP rally to reclaim the $3.70 all-time high, the worth of these 17,621 tokens would increase to $65,198, marking an impressive 560% return on investment (ROI). However, it remains to be seen if XRP can pull off this move.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Source: https://thecryptobasic.com/2024/08/31/heres-how-much-your-investment-would-grow-if-xrp-reaches-ath-of-3-70/?utm_source=rss&utm_medium=rss&utm_campaign=heres-how-much-your-investment-would-grow-if-xrp-reaches-ath-of-3-70