The winning streak on the crypto market is not coming to an end. After the Bitcoin price rose to a new all-time high of over 93,000 US dollars, it is now altcoins that are going through the roof. Bitcoin has been able to hold on to most of its gains and while there is a consolidation taking place here, US coins in particular are currently unstoppable. For the first time in years, $XRP is among the top gainers of the 100 largest cryptocurrencies over a longer period of time. This gives many investors hope that the big rally is finally starting. Is it possible to still become a crypto millionaire with $XRP?
Price doubled
Anyone who has invested in $XRP in recent years has had to have one thing above all else: patience. Until two weeks ago, the price of the Ripple coin was just as high as it was 5 years ago. $XRP has missed all the bull runs since 2018. Although the price rose again towards $2.00 during the crypto rally in 2021, it only moved sideways after that. The all-time high from 2018 could not be reached either. Today, a completely different picture emerges.
($XRP price development in the last 24 hours – Source: Coinmarketcap )
On weekends, trading volume on the crypto market is actually rather low, even though crypto exchanges are open around the clock. The news situation tends to lead to more trading volume during the week and capital from institutional investors does not flow on weekends. Today, things are different. The $XRP price has risen by 35% in the last 24 hours alone, continuing its winning streak.
Anyone who bought $XRP two weeks ago today could have saved themselves the last 3 years. In the last week alone, the Ripple coin has more than doubled in value, rising higher than it has in 2021.
Become a crypto millionaire with $XRP?
There is probably no other coin that has such a strong community behind it as $XRP. Otherwise, the coin would have sunk into insignificance long ago after such a long sideways movement. But that is not the case, as the Ripple coin is mainly used by banks. This naturally stimulates investors' imaginations as to how far the price can rise and raises the question of whether you can still become a crypto millionaire with $XRP.
🚨SHARE THIS! Ripple CEO Brad Garlinghouse drops bombshells on FOX NEWS!
Donald Trump reportedly met with Ripple. $XRP is about changing everything. #XRPArmy Our time has come 💯💪🏽 #Ripple #XRP pic.twitter.com/V37oIHznki
— Armando Pantoja (@_TallGuyTycoon) November 16, 2024
The news situation couldn't be better at the moment. The legal dispute with the SEC is likely to end soon, as Gary Gensler has already indicated his resignation and several US states are suing the agency for allegedly exceeding its authority and powers in trying to regulate the crypto market.
In addition, Ripple CEO Brad Garlinghouse has announced that there will be a meeting with Donald Trump, which further boosts investors' hopes. The pump could therefore be just the beginning of something bigger. With enough capital, it is probably quite possible to become a crypto millionaire with $XRP. However, such a venture would now require an investment of far more than 1,000 US dollars.
Even if $XRP is now experiencing a massive rally and could even rise to $10 in a bullish scenario, that still doesn't represent a 1,000-fold increase. However, such an increase would be necessary to turn $1,000 into $1 million. Therefore, you would probably need $100,000 to become a crypto millionaire with $XRP.
There is no doubt that the hype surrounding the Ripple coin can continue for quite some time and nothing currently seems to stand in the way of a new all-time high. Even if more banks use $XRP, the price will not increase by 1,000 times, as the market capitalization would then be over 66 trillion US dollars.
So anyone hoping for profits of x1,000 or more will have to look for much smaller cryptocurrencies , with new coins in particular offering the opportunity for such profits, as they are initially valued significantly lower than the current market capitalization of $66 billion of $XRP. At the moment, the new Pepe Unchained ($PEPU) is causing a stir, having had the most successful ICO of the year and is about to be listed on the stock exchange.