As XRP aims to recapture the $1 price threshold, investors continue to speculate the amount required to invest in the asset to secure millions in profit when it hits the target.
Despite the persistent downturn, analyses from market watchers have bolstered investor confidence in the asset’s capability to claim this price tag. Notably, EGRAG, a prominent analyst, asserted that XRP could scale towards $1 if it overcomes its prevailing woes.
For XRP to claim the $1 price point, the asset would need to surge by 99.2% from its current price of $0.5018. Several industry leaders believe this is an easy feat for the asset, but this remains uncertain. However, should XRP conquer this point, here’s how much required for each ROI target.
For an investor to witness $1 million on their XRP investment when the asset reaches $1, they need to hold 1 million tokens at that price. However, investors can procure these 1 million tokens with $501,800 at XRP’s current price.
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Similarly, should XRP claim the $1 price, an investor holding up to 5 million XRP tokens would see their investment surge to a worth of $5 million. At current prices, these tokens are valued at $2,509,000.
A more significant initial investment is required for investors looking to rake in higher profits of $10 million. Notably, a $10 million investment in XRP would amount to 10 million tokens. Investors can procure these 10 million tokens with $5,018,000 at the current price of $0.5018.
XRP at $1: How Feasible?
Whether a proponent seeks to secure $1,000, $100,000, or $1 million when XRP hits $1, the prevailing concern is how feasible it is for the asset to claim this price point. Most analysts believe a $1 price is an easy task for XRP, but the timeline for a rally to the target remains uncertain.
Recall that XRP almost reclaimed $1 during the meteoric rally it staged on July 13. The asset faced intense resistance at $0.9380 and has continued to face intermittent drops since then.
XRP is currently looking to seal a position above $1 and leverage the price threshold as support for greater targets. The last time XRP saw $1 was in December 2021. This September makes it 21 months since the asset traded at the much-coveted price zone.