Ripple’s XRP token is one of the most popular crypto projects. XRP is one of the most used currencies for cross-border remittances. Despite its popularity, the asset has faced major hurdles in recent years.
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While many important crypto projects hit all-time highs during the 2021 bull market, XRP was not one of them. The asset hit an all-time high of $3.40 more than six years ago in January 2018. XRP is currently down 84.5% from its 2018 peak.
Why the slow performance?
Source – Coinpedia
One of the main factors behind the asset’s lackluster performance over the past few years was Ripple’s lawsuit against the SEC. The financial watchdog filed a lawsuit against the fintech company in December 2020, accusing it of selling unregistered securities. This lawsuit created a major barrier to the price of XRP. The case was recently settled, with the fintech company paying a $125 million fine.
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Another factor that may be hindering XRP’s performance is the bearish market environment over the past two years.
Will it be possible to turn $1000 worth of XRP into $1 million by 2028?
If you buy $1000 worth of XRP now, you will receive approximately 1923.07 tokens.
According to Changelly, Ripple’s XRP token could reach a maximum price of $3.57 in 2028. At $3.57 per coin, your investment would be $6,865.38, an increase of 586.4%.
Source: Changely
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Telegaon analysts are more bullish on XRP, predicting the asset to reach a peak price of $7.84 in 2028. In this scenario, your portfolio would rise to $15,076.92.
Source: Telegaon
The growth in both cases is commendable, but it’s nowhere near $1 million and could take even longer.
