Ripple’s XRP token faced significant hurdles over the last few years. The asset failed to gain momentum even during the 2021 bull run. XRP’s lackluster performance over the last few years was likely due to the lawsuit with the SEC. The financial watchdog accused the fintech company of selling unregistered securities. The company had a partial victory last year. The win led to a substantial boost in investor sentiment. While the lawsuit is still ongoing, many anticipate the asset to come out on top.
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XRP Gaining Momentum
Ripple’s XRP is currently the third-largest crypto project by market cap. The asset has a valuation of about $154 billion.
XRP’s price is down 1% in the daily charts and 15.9% over the previous month. Despite the dip, the asset’s price has rallied 4.6% in the weekly charts, 16% in the 14-day charts, and 384.6% since February 2024.
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The recent dip was likely due to investor sentiment taking a hit after the controversy around the Libra token. The crypto market seems to be recovering from its recent descent.
How To Be A Millionaire If The Asset Hits $10 After ETF Launch
Crypto-based ETFs have taken center stage after the US approved Bitcoin (BTC) and Ethereum (ETH) ETFs last year. There is a high probability that an XRP ETF will launch sometime this year.
According to a report by Bloomberg ETF analysts Eric Balchunas and James Seyffart, Ripple’s XRP has a 65% chance of ETF approval in 2025. The SEC has also recently entered Grayscale’s XRP ETF filing into the Federal Register.
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To have a million dollars worth of XRP at $10 per coin, you will need 100,000 coins. The price of 100,000 XRP right now is about $266,000. If successful, your portfolio will grow by 275.94%.
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