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Amid the ongoing bloodbath in the market, this article outlines how much investment an investor needs to commit to XRP today to make $1 million if its price hits $5 or $10.
Most investors dream of becoming millionaires in their favorite crypto asset. However, this dream has recently faced multiple threats, given the massive dip in the prices of various cryptos, including XRP.
Analysts Optimistic About XRP Despite Price Plunge
For context, XRP, which changes hands at $0.4836, is down 4.02% over the past 24 hours. Similarly, it has also plunged 21.05% on the monthly chart.
Interestingly, the recent XRP price dip is viewed by many investors as a strategic opportunity to accumulate more tokens at lower prices in anticipation of a potential price surge. This positive outlook is bolstered by the staggering predictions made for XRP by reputable market observers.
For instance, prominent market expert Ash Crypto projected that XRP might hit a target of $5 in September 2025, representing a 933% surge from the current price. Similarly, the Crypto Basic speculated that XRP might reach $5.2 this season if it replicates its 2021 performance.
Notably, other famous market watchers like BarriC and Nick set higher targets for XRP. Both experts expect XRP to hit a $10 target in the 2024/2025 cycle. For XRP to reach the $10 target, the asset must rally 1,967% from its current price.
How Much USD Needed to Make $1M If Price Hits $5 and $10
With these top analysts expecting XRP to hit $5 and $10 this cycle, we’ve outlined how much XRP coin you need to acquire today to make the $1 million dream a reality.
Seizing the opportunity presented by the recent price dump, becoming a millionaire in dollars when XRP reaches $5 could be within reach. This would require an investor to hold at least 200,000 XRP. To acquire 200,000 XRP coins at the current price of $0.4836, an investor must commit the sum of $96,720.
However, investors would need to invest less in XRP to realize $1 million if the price eventually hits $10. To become a millionaire when the price hits $10, an investor must hold a minimum of 100,000 XRP, which can be acquired for $48,360.
Potential Factors That Could Drive XRP to $5 or $10
While this analysis may be enticing, it is crucial to reiterate that this article is purely for informational purposes and does not constitute investment advice. The crypto market is highly volatile and unpredictable, and there is no guarantee that XRP will reach the $5 or $10 targets this season.
Nevertheless, XRP has witnessed jaw-dropping price gains in the past, setting an all-time high of $3.84 in January 2018. XRP missed out on the 2020/2021 bull market due to the SEC v. Ripple lawsuit. The lawsuit is approaching its end, with top experts projecting a final resolution in 2024.
Meanwhile, there are multiple catalysts that could put XRP on the path of setting a new ATH this season. One of them is Judge Analisa Torres’ declaration in the SEC v. Ripple lawsuit. As reported earlier, the judge emphasized that XRP in itself and secondary market sales of the coin are not investment contracts.
Moreover, the growing adoption of XRP in cross-border settlements could also significantly boost the coin’s price in the future.