Market participants would need to procure this much XRP if they plan to take in $1 million should XRP clinch a $25 price.
The crypto market has recently slipped into a bearish phase amid Bitcoin’s (BTC) price collapse. During the latest market crash, Bitcoin reached levels that were last seen in February. The altcoin market also took a hit, but XRP demonstrated greater resilience than the rest of the market.
Notably, despite Bitcoin reaching a new six-month low, XRP maintained a position above its July bottom. Nonetheless, the $0.4312 low marked a 34% collapse from the $0.6580 peak attained on July 31. Amid this drop, some market watchers identify an attractive buy opportunity.
This sentiment hinges on the confidence that XRP will eventually recover from the current level. Such recovery could come from an individual rally from XRP or from following in Bitcoin’s footsteps during an upsurge by the premier crypto asset.
The Crypto Basic recently spotlighted one such instance. It bears mentioning that VanEck, a leading asset management firm, recently predicted Bitcoin to hit $2.9 million in 2050. If XRP follows Bitcoin’s growth amid such a rally, XRP’s price could skyrocket to $25.7945 by 2050. This would mark a 5,125% increase within 26 years.
How Much You Need to be a Millionaire if XRP Hits $25
Given current market conditions, it remains to be seen if XRP can attain $25.7945 by 2050. However, should this materialize, some investors would seek to know how much is necessary to secure substantial profits, such as $1 million.
Notably, to earn $1 million when XRP reaches $25.7945, an investor must hold 38,767 XRP. At press time, XRP changed hands for $0.5162. To procure the 38,767 XRP tokens, the investor must commit $20,012 at the current XRP price.
While the jump to $25 appears feasible, market trends can be tricky. For instance, investors holding XRP at $3 in January 2018 remained convinced that in the next few years, XRP would reach higher ground. Six years later, XRP has dropped 84% from the $3.31 all-time high.
The current reality has dealt a huge blow to investor sentiment. While some market speculators believe XRP would still fail to recover its ATH during the ongoing bull market, some analysts think this will not be the case. EGRAG, a skilled chartist, predicted last month that XRP could be on the verge of a rally to $27.
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.
