Investors who have managed to enter the top 10% on the XRP rich list could see some impressive gains when XRP finally reaches a two-digit price.
Notably, the crypto market recently entered another consolidation phase, and XRP followed suit, dropping to retest the $2.2 price level again. This comes after the altcoin failed to capitalize on the earlier Bitcoin (BTC) upsurge that pushed its price to new all-time highs last month.
As a result of Bitcoin’s solo rally, which left altcoins like XRP behind, Bitcoin dominance has continued to surge. However, analysts believe an imminent drop in Bitcoin dominance is on the horizon. This would massively benefit XRP and other altcoins.
Analysts Target XRP to $10
With the market expecting the altcoin season to take shape soon, several market watchers have projected price targets for assets such as XRP. For instance, analyst DK64Trades suggested last month that he is sure XRP will eventually break above $10. He cited the XRP dominance in his argument.
Also, the founder of CryptosRUs, George Tung, indicated in a May interview that he sees XRP reaching $10 by the end of the year. For context, a $10 price would represent a 354% increase from the current price, and while most proponents believe this target is conservative, the consensus is that XRP could claim it soon.
At this price, investors could witness impressive gains depending on the amount of XRP they hold. Community commentators like Edoardo Farina have consistently charged investors to accumulate at least 10,000 XRP tokens.
How Much Top 10% on XRP Rich List Will Make if XRP Hits $10
In previous instances, Farina also suggested that investors amass enough XRP tokens to at least enter the top 10% on the XRP rich list. He made this suggestion in February when the requirement to enter the top 10% XRP rich list was 2,501 XRP. Today, this threshold has dropped to 2,480 XRP.
If an investor can amass these 2,480 XRP tokens to secure a spot among the top 10% on the XRP rich list, they could see some subtle gains when XRP claims $10. Notably, these tokens are currently worth $5,456 at XRP’s current price of $2.2. If prices surge to $10, these 2,480 XRP tokens will be worth $24,800, a yield of $19,344.
However, it bears mentioning that not all investors within the top 10% on XRP rich list hold exactly 2,480 XRP, as this is merely the least amount to hold to enter this elite group. Others hold more up to 8,770 XRP. Those on the topic 10% list with 8,770 tokens currently sit on $19,294. If XRP hits $10, this investment will hit $87,700, a profit of over $68,000.
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.
