XRP currently faces a prolonged downtrend, but this bearish position favors investors looking to rake in $1 million in the asset should it recover the $1.8 or $3.4 high.
The logic behind this is that the current downturn presents an opportunity for market participants to procure XRP at discounted prices. As a result, several investors express eagerness in identifying the amount required at this point to make $1 million when XRP recovers previous highs.
XRP had already demonstrated its ability to register massive gains when it soared to its all-time high of $3.4 in January 2018. After collapsing from the ATH, XRP staged a recovery campaign that saw it reclaim the $1.8 price point in April 2021.
XRP at $1.8
Should the asset reclaim these past highs, investors would require less amounts of XRP to sit on $1 million investments. Notably, at a price of $1.8, 555,555 XRP tokens would be worth $1 million.
Interestingly, these 555,555 XRP tokens are currently worth $278,055 at XRP’s current price of $0.5005. Essentially, an investor would need to amass 555,555 XRP at today’s price for $278K to secure $1 million if XRP ever recovers $1.8.
Should the asset reclaim this price point, such holdings would witness a 259% return on investment (ROI). It is important to note that while XRP has delivered much higher returns in the past, previous successes do not guarantee future performance.
XRP at $3.4
The loftier price position, $3.4, would require less initial investment from investors looking to hit the $1 million mark. If XRP recovers the $3.4 all-time high, investors holding 294,117 XRP would be sitting on $1 million.
Market participants seeking to accumulate these 294K XRP tokens at current prices must commit $147,205. Should the $3.4 price come into play, the rate of appreciation would sit at 579%, much lower than XRP’s appreciation rate from late 2017 to January 2018.
However, despite the previous surges, investors remain uncertain of XRP’s next price direction. Amid these uncertainties, analysts have made bullish forecasts. One chartist EGRAG asserted that XRP could hit $1.4 in the foreseeable future.