Tuesday, 5 March 2024
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AltcoinsCrypto

By February 2024, $100 invested in Ripple XRP will have grown to $1.4 million

  • A notable correction occurred in 2024 for the well-known cryptocurrency Ripple’s XRP token.
  • Since its high in January 2018, XRP, which started trading in 2013, has grown significantly.
  • The price of XRP has decreased by more than 85% since it peaked in January 2018 at $3.40.

A notable correction occurred in 2024 for the well-known cryptocurrency Ripple’s XRP token, with the asset falling by 2.5% on daily charts, 3.6% on weekly charts, over 12% on 14-day charts, and 22.5% over the previous month.

Nonetheless, the asset has continued to rise since January 2023, rising 22.4% in the previous year. Since its high in January 2018, XRP, which started trading in 2013, has grown significantly.

Ripple XRP

From September 2013, if $100 was invested each week in XRP, the portfolio’s value would have increased to $1.44 million, representing a CAGR of 2564%. The price of XRP has decreased by more than 85% since it peaked in January 2018 at $3.40.

The US SEC’s ongoing lawsuit against Ripple, which claims that the sale of XRP violates securities laws, maybe the reason for XRP’s lack of movement in 2021.

Investors are awaiting a decision, but a US district court determined that selling XRP to retail customers did not violate any laws. The alliances that Ripple has with banks and its participation in CBDC initiatives may potentially help to drive up the price of XRP.

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