With the 2024 bull run expected to kick off soon, the debate of how much XRP it takes to become a millionaire has begun within the XRP community.
Pro-XRP influencer Kenny Nguyen (@mrnguyen007) began the discussion on X by claiming that 500 XRP can unlock seven-figure riches.
XRP is currently trading at $0.6251, down 1.51% in 24 hours. 500 XRP costs $312.55, and turning that into millions seems like a steep ask for XRP.
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However, a savvy trader recently turned 1.5 SOL (worth $92 at that time) to $1.55 million, showing the power of cryptocurrencies in the hands of the right traders.
According to Nguyen, he has been answering the same question for years and has held his belief that 500 XRP can make a crypto investor a millionaire.
However, to achieve Nguyen’s expectations, XRP’s price would need to skyrocket to a staggering $2,000, almost 320,000% higher than its current level.
Although Nguyen believes this can happen, a prominent crypto analyst disagreed with this, giving his predictions of how well XRP can perform.
Top Crypto Analyst Weighs In
JD (@jaydee_757), one of the top analysts in the crypto industry, believes the path to millionaire status lies with a larger XRP holding, somewhere between 100,000 XRP and 200,000 XRP.
The analyst wrote, “Honestly.. about 100k-200k XRP would make you a millionaire this coming cycle brotha. 500 XRP assumes $2000/XRP. Highly unlikely per technicals.”
Honestly.. about 100k-200k XRP would make you a millionaire this coming cycle brotha. 500 XRP assumes $2000/XRP. Highly unlikely per technicals. Majority of the #XRPcommunity will get REKT to be honest.. its gona be a FUN but very sad ride for most 💪
— JD 🇵🇭 (@jaydee_757) December 29, 2023
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He broke down Nguyen’s analysis, showing that XRP would have to reach $2,000, and pointed out that the technical signals do not point to such a high price for XRP in the next bull run.
To give investors a large amount of XRP, an amount much higher than $312 is required. He said a price surge to a price between $5 and $10 is enough to make any XRP investor become a millionaire.
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JD added, “Majority of the #XRPcommunity will get REKT to be honest… it’s gonna be a FUN but very sad ride for most.” Based on XRP’s current technical indicators, a small investment of $312 will leave many investors disappointed. While both scenarios are possible, JD’s perspective appears grounded in a more conservative and achievable price trajectory.
JD has offered a significantly safer option. Although Bitboy Crypto, another notable crypto personality, recently called XRP the standard for the next bull run, investors should still invest wisely and not get carried away by pipe dreams.
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