XRP price has faced downward pressure recently, particularly following the U.S. Securities and Exchange Commission’s (SEC) Notice to Appeal Judge Analisa Torres’s ruling from August 7. Despite this turbulence, analysts are optimistic, predicting a potential rally for XRP during the upcoming bull run. So, how much XRP investors would need to hold to make $1 million or $5 million if these price targets are reached?
$1 Million And $5 Per XRP
To achieve a target of $1 million when the price of XRP hits $5, an investor would need to own 200,000 XRP. This figure reflects the simple equation of dividing the desired amount—$1 million—by the target price of $5. This scenario assumes that the investor holds onto their XRP until it reaches this anticipated price point.
Several factors could significantly contribute to XRP reaching this target. For instance, the upcoming RLUSD launch is expected to enhance liquidity within the XRPL ecosystem, thereby boosting XRP’s price. Additionally, the potential introduction of an XRP Exchange-Traded Fund (ETF) from Bitwise could serve as a catalyst, increasing demand and investor confidence. If these developments unfold as anticipated, XRP may very well surge to $5 and beyond.
$5 Million And $10 Per XRP
Similarly, to amass $5 million at a price point of $10 per XRP, an investor would need to hold 500,000 XRP. This reflects the necessary investment to achieve the desired financial goal, provided the price rises to $10.
If XRP reaches $10, the market capitalization would rise to approximately $566 billion. This may seem ambitious, but it is not unprecedented; XRP has previously achieved market caps that rivaled those of Ethereum on three separate occasions since 2020. In fact, if XRP were to attain Ethereum’s market cap again, it would be priced around $7, making the $10 target more attainable than merely speculative.
Will XRP Price Hit $5 or $10?
The chances of the price of XRP hitting $5 or $10 greatly depend on several factors, such as market trends, the development of the SEC v. Ripple lawsuit, and the potential onset of the last phase of the 2024 bull run.
Analyst Armando Pantoja shared why XRP is not in a bear market despite the “SEC’s noise.”
Here’s why #XRP isn’t in a bear market despite the SEC’s noise:
1. In 2020, rallied from $0.11 to $2
2. 7-year macro base, pennant broken
3. Tightest Bollinger Bands ever
4. Post-halving price surges
5. SEC’s last-ditch play$XRP will rise again pic.twitter.com/93Z3EcR7al
— Armando Pantoja (@_TallGuyTycoon) October 4, 2024
According to Pantoja, this is the last-ditch effort on the SEC’s part to hold the price of XRP down. In addition, he notes that in 2020, the Ripple price rallied from $0.11 to $2, an 18X increase. His sentiments were further echoed by top trader EGRAG Crypto, who thinks the XRP price will hit $5.
XRP Price Analysis Chart
Tying his prediction to the Ripple-SEC lawsuit, EGRAG Crypto notes that in 2020, when the case began, XRP still managed a 10X from the bottom. According to his prediction, even if the court accepts the SEC appeal, given the incoming bull run, the XRP could rise to $5 or $6, potentially extending to $10 if the buying pressure is high.
On the off chance that Ripple defeats the SEC, then the price of XRP could skyrocket beyond $10. Pro-XRP lawyer Fred Rispoli put Ripple’s chance of defeating the SEC at 70-80%. Ripple will file a cross-appeal as Garlinghouse vowed to fight to the end.
If the XRP can hit $5 in unfavorable conditions, then a positive turnout in the SEC vs. Ripple lawsuit will likely propel it beyond $10.
Conclusion
Investors need to hold between 200,000 and 500,000 XRP coins to achieve significant returns, such as $1 million or $5 million. Two factors currently could cause the XRP price to surge to these levels: Ripple defeating the SEC in court and the bull run starting.
The post Here’s How Much XRP Needed to Make $1M and $5M if XRP Price Hits $5 and $10 appeared first on CoinGape.