$1000 of XRP in 2016 is Worth This Much in 2024

Back in 2016, Ripple’s XRP token was trading for about $0.0065 per coin. If you had purchased $1000 worth of XRP in 2016, you would have received about 153,846.153 coins. Since its 2016 levels, XRP’s price has risen by over 7400%. The value of the 153,846.153 XRP tokens would have risen to $75,230.76 in 2024.

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If you had held on till XRP hit its all-time high of $3.40 in January 2018, you would have made $523,076.92, over half a million dollars.

When will Ripple’s XRP reclaim its all-time high?

XRP’s price has substantially fallen since its 2018 peak. XRP is currently down by over 85% from its all-time high.

Since reaching its high in 2018, XRP has suffered greatly. The asset has decreased from its peak by more than 85%.

The reason for the asset’s poor performance in the past few years is probably because Ripple is still in a legal battle against the US SEC. The fintech company was sued by the financial watchdog in December 2020 on the grounds that it was selling unregistered securities. The litigation has greatly hindered the movement of XRP’s price. XRP did not reach new all-time highs during the 2021 bull run, while many other assets did.

Also Read: Ripple vs SEC Lawsuit: Will SEC Free Ripple XRP After Ethereum

Last year, a US district court ruled partially in favor of the fintech company, stating that selling XRP to retail clients did not break US securities law. The suit is currently pending in the high court.

Ripple’s XRP token will likely reclaim its all-time high after the SEC lawsuit reaches a conclusion. Former Ripple director Sean McBride also shares a similar belief. McBride said that XRP won’t move until ‘Judge Torres makes her decision.’ McBride went as far as to call people who think otherwise as “delusional.” If the high court rules similarly to the district court, XRP may witness a massive surge in adoption and price.