The dream of achieving millionaire status has encountered a place in crypto speculators’ minds due to the high-volatile cryptocurrency market and a revolutionary industry that is still in its infancy.
In recent years, numerous individuals have increasingly turned to cryptocurrencies and other digital assets such as XRP, hoping to ride the wave to newfound wealth. However, there are no risk-free shortcuts in this journey, with the vast majority of cryptocurrency traders reportedly losing to a small minority of profitable investors.
From the most objective perspective, an investor with 1.81 million XRP tokens would have $1 million at the current price of $0.55 per token. While a stash of 1 million XRP would be worth $550,000 dollars.
XRP 1-year price chart. Source: Finbold
How to become a millionaire with XRP
From a more speculative perspective, if XRP were to find the same demand it had at XRP’s all-time high market cap of $131.65 billion in 2018, it would be priced at $2.46 with the current circulating supply of 53.4 billion tokens.
Interestingly, a speculator would need to invest $223,557 at $0,55 per token for a stash of 406,467 XRP that would be worth $1 million at the mentioned speculative price.
In a more optimistic forecast, if XRP demand overcomes its previous all-time capitalization and Ripple’s project were to reach its all-time high price of $3.40 per token, an investor would need to allocate $161,764 at the time of publication to become a millionaire.
On the other hand, a multi-millionaire investor who purchased $6.18 million in XRP at its all-time high price would have seen its wealth reduced to just a million dollars five years later.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
