XRP, the sixth largest cryptocurrency by market capitalization, has remained an exciting prospect, which could be said to still be a work in progress despite its early emergence as Ripple’s platform-dedicated token in August 2013.
Data from CoinCodex, a renowned crypto assets tracking site, revealed XRP’s inaugural selling price to be approximately $0.0055.
With 2023 almost elapsing, it is safe to say that XRP has been on the market for over ten years, during which it has achieved prominence among its peers.
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XRP’s current price of $0.63 implies that the token has spiked by about 11,354.5% since it first entered the crypto market.
Having established the above facts, investing $1,000 in XRP during its early days will be sufficient to accumulate about 181,818.2 XRP. Holding on to the procured tokens would amount to $114,550 based on current market standings, implying profits of over $100,000.
For traders who were fortunate to sell off their accumulated tokens at XRP’s all-time high (ATH) of $3.8, the $1,000 investment would have run into about $691,000, with profits standing around $690,000.
While many might see XRP’s increase as not being remarkable for a token that has existed for more than ten years, it is pertinent that they consider some factors that might have hindered the asset’s expansion.
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XRP Expansion Dreams Hindered?
Among several occurrences that hindered XRP’s growth over the years, the legal dispute between Ripple and the United States Securities and Exchange Commission (SEC) remains a significant constraint.
Notably, the SEC engaged Ripple in a protracted legal battle, which has lasted for over three years now. However, most court outings this year witnessed significant decisions in favor of Ripple, and crypto enthusiasts seem convinced about the prospect of the crypto platform coming out victorious.
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Meanwhile, XRP’s all-time high (ATH) of $3.8 played out in January 2018, merely five years after the token’s launch. This goes a long way in explaining the coin’s meteoric rise and how devastating the legal dispute with the regulatory body seemed to have impacted the token’s expansion.
XRP To $1.2
According to Egrag Crypto, a $1.2 selling price does not appear far-fetched for XRP. The crypto analyst made the bold claim, citing an XRP 12-hour price chart and highlighting the possibility of an imminent and rapid XRP short-term rally happening soon. It is left to see how events unfold.
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