Crypto investor Quinten Francois recently called attention to his purchase of XRP at an incredibly low price of $0.009 seven years ago.
XRP Rose 6,883% in Seven Years
The long-term crypto investor disclosed yesterday that he made his first crypto purchases exactly seven years ago. According to him, his purchases involved Bitcoin (BTC) at $950, Ethereum (ETH) at $44 in 2017.
7 years ago on this day I bought my first crypto:$BTC at $950$ETH at $44$XRP at $0.009
This is what the top 10 looked like back then pic.twitter.com/tHsJfwjpLb
— Quinten | 048.eth (@QuintenFrancois) March 24, 2024
Historical data from market tracking platforms like CoinMarketCap affirms that XRP traded as low as $0.00904 on March 25, 2017. This is about five years after XRP launched and had recorded an all-time low of $0.002802.
Meanwhile, on March 25, 2017, XRP reached an intraday high of $0.01071, with a 24-hour trading volume of $11,334,900. Considering XRP’s current market value of $0.6313 today, it implies that the token has grown by 6,883% from a low of $0.00904 seven years later.
Interestingly, XRP featured a market cap of only $340,825,428 at the time. Similarly, this market cap has surged by precisely tenfold, with XRP’s current valuation currently sitting at $34.64 billion.
Meanwhile, XRP ended 2017 at a prevailing price of $2.3920. At this time, its market cap had reached $89.12 billion. Considering it traded at $0.00904 nine months earlier, the growth rate translated to a 26,360% increase within a year.
Comparing XRP Trajectory to BTC, ETH
On the other hand, Bitcoin traded at a low of $903.71 on March 25, 2017. With Bitcoin’s price at $66,873 today, it implies BTC has grown by 7,300% in seven years.
Ethereum experienced a comparable 6,800% gain through the same period, moving from about $50 to its current position of $3,446. This confirms that XRP’s seven-year performance is comparable to Bitcoin’s and Ethereum’s despite recent market dynamics.
Meanwhile, XRP holders have become increasingly apprehensive about its recent performances, seeing the asset as an underperformer compared to its rivals.
Pessimism and Optimism about XRP
The recent concerns stemmed from the fact that XRP is still below its 2018 all-time high. In contrast, others like BTC and ETH established new peaks in 2021, with BTC entering a new price discovery phase this cycle and ETH on the path to sliding into this zone.
In parallel, XRP is about 84% below its six-year-old all-time high, sparking concerns that the asset may not set a new peak this season.
However, prominent figures in the XRP community remain confident in XRP’s potential this cycle. As reported recently, Wall Street analyst Linda Jones expressed that the crypto market is lucky XRP is still available at discounted prices for accumulation.
Some market analysts have voiced confidence that XRP could experience a repeat of 2017 this season, targeting a high as $27 for XRP.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
