The Ripple (XRP) market has endured quite a struggle over the years following its legal battle with the Securities and Exchange Commission (SEC). The altcoin hit an all-time high of $3.84 about seven years ago 2018.
Most assets have attained new highs over the past few years. Throughout the past year, XRP surged to a high of just $0.71, which is much lower than its peak.
Current Market Price
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XRP is trading at $0.5894, with a nearly 1% drop over the past 24 hours. Furthermore, according to data from Coinglass, XRP has a long-to-short ratio of 52.44%. With a higher percentage of shorts than longs, this ratio indicates a bearish outlook in the market. This means that more investors appear to anticipate a decrease in asset price.
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Becoming a Millionaire with XRP
How Much XRP Should You Buy to Become A Millionaire?
Recent data from Changelly revealed that XRP will take a while to reclaim its all-time high. The altcoin will reach the $3 mark in 2028 and eventually peak at $3.57 in the same year.
XRP investors must patiently hold on to their assets before seeing them change into a life-changing profit. But how much should they hold?
Calculating the Required Investment
According to calculations, an investor needs 30,000 tokens to become a millionaire. At the altcoin’s current price, 30,000 XRP would cost about $17,682.
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While this may be relatively large, it could be life-changing shortly. A favourable regulatory climate and the overall surge in the market could push the asset to the top earlier than the estimated prediction.
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