How Much to Invest to Be a Millionaire if XRP Hits $5?

Ripple’s XRP token has had a lucrative year so far in 2023. The token’s price has surged by over 83% since January and is currently up by 61% since last December. Nonetheless, the token has faced a sharp correction over the weekend. XRP is down 4.7% in the daily charts and 6.9% over the previous month.

Also Read: Ripple XRP: Weekly $100 Since Launch Is Worth This Much Today

Nonetheless, analysts anticipate the token to generate considerable steam in the long run. Therefore, reaching “millionaire” status with the XRP token seems to be a realistic goal.

How much to invest to be a millionaire if Ripple’s XRP hits $5?

Reaching $5 from current price levels translates to a growth of about 700% from current levels. If XRP hits $5, you need 200,000 tokens to hold $1 million worth. The price of 200,000 tokens right now is about $125,000. The return on investment in such a trade would be very high.

Also Read: Ripple XRP: ChatGPT Predicts 1,200% Rally to $8, Here is When

However, the question now becomes whether XRP can reach $5. Ripple’s partial victory in its lawsuit with the SEC (Securities and Exchange Commission) positively impacted the token’s adoption. However, the lawsuit is ongoing, and XRP’s status as a “non-security” is not final. However, there is a high chance that the US Supreme Court will take the same route as the district court, and Ripple’s sale of XRP to retail investors will declared “non-security.”

Furthermore, the use of Ripple’s XRP token for cross-border remittance has surged in the last few years. Analysts expect this metric to grow over the next few years.

An increase in adoption and a win against the SEC could give the token an edge to hit $5. Nonetheless, the journey will not be easy, and investors will need patience along the way.