Ripple’s XRP token seems to be defying the general market trend. The asset has climbed 5.8% in the daily charts, 6.2% in the weekly charts, and 0.8% in the 14-day charts. On the other hand, Bitcoin (BTC) has dipped 0.4% in the last 24 hours and continues to trade just below $58,000.
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Ripple’s XRP token’s latest rally is likely due to Grayscale launching the first US XRP trust. The move has rekindled talks about a potential XRP ETF later this year. The launch of the Bitcoin ETFs earlier this year opened the door to more crypto-based ETF products. An XRP ETF could lead to the asset hitting a new all-time high.
How Much XRP Is Needed To Be A Millionaire When It Hits $7?
Hitting $7 from current prices will entail a rally of about 1150%. Reaching this price point will also mean a new all-time high for XRP. The asset is currently down by over 83% from its all-time high of $3.40, which it attained in January 2018, over six years ago.
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To have a million dollars worth of XRP at $7 per coin, you will need about 142,857.14 coins. The price of 142,857.14 XRP right now is about $80,000.
When Will The Asset Hit $7?
According to Changelly analysts, Ripple’s XRP token could hit the $7 mark sometime in 2030, about six years from now. The platform anticipates the asset to hit a maximum price of $7.54 in 2030.
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Telegaon researchers present a more bullish picture of XRP. The platform anticipates the asset to breach the $7 mark in 2028, hitting a potential maximum price of $7.84 that year.
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