Buying XRP is Like Buying Manhattan Real Estate in the 1800s, Which Made the First American Millionaire: Pundit

Edoardo Farina, the founder of Alpha Lions Academy, recently suggested that buying XRP now could be like buying land in Manhattan back in the 1800s. 

Notably, Farina believes XRP is still in its early growth stages despite its past gains, suggesting it could have massive potential, much like how New York City real estate skyrocketed in value over the past two centuries.

Manhattan Real Estate’s Historical Returns

For context, land in Manhattan in the late 1700s and early 1800s was incredibly cheap. For instance, in 1790, some plots on the Upper West Side were selling for as little as $50 per acre. Just a few decades later, in 1825, prices had jumped to $400 an acre. 

Meanwhile, by the late 1800s, prices skyrocketed further. Standard residential lots sold for $15,000 or more, while high-traffic corners like 72nd Street and Riverside Drive went for $50,000. 

One example is the lot at 67 Broadway. It was worth $12,000 in 1790, but by 1889, that same land was worth $800,000. The site at 26 Broadway, where Alexander Hamilton once lived, went from being a $10,000 property to housing the Standard Oil building, which was valued at $1.25 million. 

Interestingly, investors capitalized on this early and made substantial returns. In particular, John Jacob Astor, who initially gained wealth from fur trades, shifted his attention to New York real estate in 1799. By the 1830s, he had become more invested in the sector, eventually becoming America’s first millionaire.

Does XRP Boast a Similar Potential?

Importantly, Farina sees XRP in a similar light. As of now, XRP is trading at $2.42. At this price, XRP already boasts gains comparable to Manhattan real estate. 

For context, a decade ago, in May 2015, XRP traded at an average price of just $0.006. An investor who bought $20,000 worth of XRP back then would have received 3.33 million tokens. At today’s price, that stash would be worth over $8 million. This represents an over 40,000% return in ten years.

Despite this historical performance, Farina still thinks XRP has room for more growth. Notably, he has persistently encouraged investors to consider buying at least 10,000 tokens. His optimism has prevailed due to several bullish projections around XRP.

These projections come from the confidence that XRP could play a big role in the future of finance. Some analysts think XRP might take a leading role in the global shift toward tokenization, a market expected to grow to $18 trillion by 2033. Others see it replacing or at least working alongside SWIFT.

Returns on 10,000 XRP Investment at Ambitious Prices

If XRP succeeds in either or both of these areas, demand could skyrocket. As a result, ambitious price predictions have suggested the asset could reach $100 or even $1,000 in the future.

At today’s price of $2.42, an investment of 10,000 XRP would cost around $24,200. If XRP hits $100, those tokens will be worth $1 million, delivering a return of more than 4,300%. However, if it somehow reaches $1,000, that same amount of XRP will be worth $10 million, a 44,542% return.

Nonetheless, critics argue that XRP reaching $100 or $1,000 is not realistic at current market conditions. If XRP hits $100, its total market cap, based on the full supply of 99.8 billion tokens, would be around $9.9 trillion. This is already almost three times the value of the entire crypto market today, which stands at about $3.3 trillion. 

Meanwhile, if XRP hit $1,000, its market cap would shoot up to $99 trillion. This figure is more than the combined GDP of most countries and even more than the total value of all the gold in the world, which is roughly $21.4 trillion.