U.S.-based crypto exchange Gemini caught the attention of XRP enthusiasts after showing how a $1,000 investment in the token has skyrocketed over the past five years.
In a post on X, Gemini compared the five-year returns of several popular cryptocurrencies, including XRP. According to the exchange, a $1,000 investment in XRP five years ago was worth approximately $10,700 as of September 25, representing a tenfold increase.
At the time Gemini posted the estimate on September 25 at 3:00 p.m. (UTC), XRP was at $2.84. Meanwhile, five years ago, in September 2020, the coin traded around $0.265. At that price, an investment of $1,000 in XRP would have procured 3,767 tokens.
The $1,000, which seemed like a modest investment back in September 2020, has now grown to an impressive $10,700. At XRP’s July peak of $3.65, that same investment would have been worth roughly $13,750.
XRP Outperforms LINK and Litecoin
While XRP investors would have enjoyed substantial gains on a $1,000 investment made five years ago, Gemini’s data paints a less impressive picture for Chainlink (LINK).
According to the data, a $1,000 investment in LINK five years ago was worth about $1,940 at the time of the post, indicating a return of less than 2x.
The comparison looks even weaker for Litecoin (LTC), where Gemini’s data showed a $1,000 investment in September 2020 had only grown to about $1,260. However, a review of LTC’s price history on CoinMarketCap suggests otherwise. In September 2020, LTC traded at around $42 and currently trades at $103.
In other words, a $1,000 investment in Litecoin at that time would now be worth over $2,452. Meanwhile, this remains well below the gains seen with XRP, but stronger than Gemini’s initial estimate.
Additionally, XRP outpaced both Ethereum and Bitcoin, which delivered five-year returns of $10,104 and $9,310, respectively. However, it still fell short of Dogecoin’s explosive rally, where a $1,000 investment ballooned to roughly $85,000 over the same period.
Strong Resilience Despite SEC Legal Tussle
The data highlights XRP’s resilience in the face of significant regulatory hurdles. Legal expert Bill Morgan also noted that the five-year period during which a $1,000 XRP investment grew to $10,700 largely coincided with the SEC’s lawsuit against Ripple.
The SEC filed its lawsuit against Ripple in December 2020. The lawsuit dragged on for nearly five years before finally concluding last month.
Despite facing a high-profile from the U.S. SEC, XRP still managed to achieve consistent growth, surpassing Chainlink and Litecoin in returns.
In the meantime, XRP has surged 373% over the past year, currently trading at $2.76, with a year-to-date gain of 32.9%. However, a broader market downturn led to a 7.78% loss over the past month and an 8.84% decline this week.
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.
