Ripple CTO Shares Details of 1 Million XRP Buy At $0.005

The Ripple CTO David Schwartz recently revealed that his father bought over 1 million XRP in 2014 when the asset was trading for $0.005.

The disclosure came as a response to a question posed by Alex Cobb, a notable XRP community figure and trader. Cobb had taken to X to ask members of the XRP community the lowest prices at which they purchased the asset.

While some community members mentioned $0.11, $0.13, and $0.17, David Schwartz engaged the post to make the mind-blowing disclosure. He said his father procured over 1 million XRP tokens in April 2014 for $0.005 per XRP.

My father bought over a million XRP in April of 2014 from Justcoin at about a half penny per XRP.

— David "JoelKatz" Schwartz (@JoelKatz) October 3, 2023

The revelation triggered a wave of reactions from the XRP community due to the massive returns the investment would bring if bought and held over the years. Notably, this price represents one of XRP’s lowest prices, and historical data confirms the asset did trade at this level in April 2014.

Notably, XRP surged to a high of $0.0614 on Dec. 5, 2013 shortly after it started trading in the market. However, the asset corrected this rally over the following months, retracing to a low of $0.00538 in the last week of April 2014. Schwartz’s father must have purchased the tokens at this time.

An Impressive 10,048% ROI

For context, supposing he bought 1 million XRP, the tokens at the time would be worth $5,000 at $0.005 per XRP. If these tokens were held through to XRP’s ATH of $3.3 in January 2018, they would have been valued at a whopping $3.3 million, representing a profit of over $3.2 million.

Regardless, if he continued to hold onto these assets until now, they would be worth $507K at XRP’s current price of $0.5074. While the tokens’ worth might have dropped from January 2018 until now, the investment would still see a massive 10,048% increase if held.

This disclosure from Schwartz serves as a reminder of the allure of getting into a market early. Like most cryptocurrencies, XRP has stood the test of time, delivering massive returns to early adopters. The asset is currently 18,126% up from its all-time low despite the latest market turmoil.

The burning question on most investors’ minds now is whether the asset still has another massive upswing. Several analysts have projected astronomical rallies to prices such as $39, $90, and even $249.