An XRP community figure has suggested that when XRP skyrockets to higher prices, it won’t make a difference what price he procured it today.
Over the past few weeks, XRP has been fluctuating between $2.2 and $2.6, looking to recover from the Oct. 10 market dump. After soaring to $2.69 on Monday, Oct. 27, XRP has corrected to the current price of $2.55 on the back of three intraday losses.
While XRP’s market cap has lost over $8.2 billion from the Monday peak, its unit price has only dropped by a mere $0.14. Interestingly, software developer and XRP community figure Vincent Van Code recently argued that these price fluctuations should not deter long-term investors.
A $0.6 Price Difference Won’t Matter if XRP Hits $100
Notably, for daily traders, these price movements make a lot of difference, depending on entry and exit prices, as well as their trade bias. However, Van Code’s recent comment indicates that investors who purchase XRP to hold for the long run should not show much concern about these minute price differences.
According to him, he used to complain about having to buy XRP at $0.80 because he had previously bought it for $0.20 or less. At the time, the higher price felt frustrating to him, as though he was overpaying compared to his earlier purchases.
For context, XRP, which traded for as low as $0.2095 in January 2021, eventually cost as high as $1.96 by April 2021. Its price also dropped to a low of $0.29 in June 2022 following the Terra collapse. However, by July 2023, investors had to pay a whopping $0.92 for 1 token. Today, XRP costs as much as $2.55.
Van Code confirmed that paying such higher prices for an asset he bought lower months or years back was concerning to him. However, he realized that in the long run, small differences in price, like paying $0.20 versus $0.80, would become insignificant if XRP’s value eventually rose to something massive like $100.
Could XRP Reach $100?
The pundit’s confidence comes from the optimism that XRP could reach higher prices that would make whatever price one pays today irrelevant. For instance, in 2011, Bitcoin (BTC) fluctuated between $3 and $12. Now that it changes hands for $110,000, most investors would not see much difference between buying it for $3 or $12 back in 2011, as long as they did purchase it.
Van Code believes a $100 price for XRP is plausible, and if it does materialize, it won’t matter whether an investor bought it at the lows of $2.18 on Oct. 17 or the current price of $2.55. Specifically, if you invested $50,000 into XRP at $2.18, you’d have 22,935 tokens. However, if you bought at $2.55, you’d procure 19,607 XRP.
Should the $100 prediction play out, the 22,935 tokens (bought at $2.18) would be worth $2.29 million, while the 19,607 tokens (bought at $2.55) would have a value of $1.96 million. Essentially, both investments would yield millions for their respective holders. Nonetheless, the onus rests on XRP reaching $100, which, although most analysts believe could happen, remains uncertain.
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.
