James Spillane
Last updated: | 3 min read
This article originally appeared on coincierge.de.
Can you become a millionaire with Ripple’s XRP? At the time of writing, the value of one XRP token is approximately $0.50. To hold XRP worth one million dollars, investors would therefore need around two million tokens.
However, a study suggests that even owning fewer than 100 XRP could be sufficient to reach the million-dollar milestone. In this article we ask the question – is it possible to achieve millionaire status by buying just $50 worth of XRP?
Is An XRP Price Range From $3,500 – $21,900 Realistic?
Valhil Capital’s recent study indicates that the fair value of XRP would fall within the range of $3,500 and $21,900 per token at some point in the future.
This astronomical price is derived from results obtained through six different quantitative pricing models.
— Molly Elmore (@mollyelmore22) June 7, 202316. To our knowledge, no other analysis of this scope has been done in the digital assets space.
A diverse team (w/a variety of professional backgrounds) came together as volunteers to build a series of quantitive models to understand the value drivers for a digital currency. pic.twitter.com/XuDlNwPd2i
Currently, approximately 52 billion XRP tokens are in circulation. Taking the lower value of $3,500 per token, this would correspond to a market capitalization of $180 trillion.
By comparison, the total market capitalization of all cryptocurrencies, including Bitcoin and Ethereum, is only $1.05 trillion. To build a fortune of one million dollars at a price of $3,500 per token, as few as 286 XRP would be sufficient.
A Ripple price forecast of $3,500 or higher might seem unrealistic, even impossible unless in some hyperinflation type scenario – but the explosive study by Valhil Capital claims it to be possible if XRP assumes the position of a global currency and store of value.
Can Ripple Beat the SEC?
Their investigation centred around assessing the impact of the SEC lawsuit against Ripple. The “fair price” that Valhil Capital analysts estimate for XRP is the result of two years of research.
Since late 2020, Ripple, the company behind the cryptocurrency XRP, has been under pressure due to its legal dispute with the SEC. The charges include unregistered securities trading and insider trading.
A total of $1.3 billion is estimated to be at stake and the outcome set to determine the future of XRP. Should Ripple win the case, analysts speculate that the XRP price could experience a tremendous increase.
Ripple CEO Brad Garlinghouse, Messari CEO Ryan Selkis, and crypto lawyer John Deaton have all expressed optimism for a pro-XRP resolution to the lawsuit.
Becoming a Millionaire with Small Crypto Investments: These Coins Set the Example
With 100 XRP today, investors may not be able to break the million-dollar mark any time soon.
The list of cryptocurrencies that have provided early investors with substantial profits is extensive though. Bitcoin and Ethereum, the two largest cryptocurrencies, were also initially traded for only a few cents or fractions of cents.
However, due to the flood of new cryptocurrencies (there are now more than 20,000 digital currencies or ‘altcoins’ alongside BTC), it has become significantly more challenging to identify coins with significant potential.
A new type of cryptocurrency that has made these price explosions a reality in recent months and years is the emerging sector of ‘meme coins‘.
Starting with Dogecoin, Shiba Inu, and most recently Pepe coin, what they all have in common is that they do not offer any real value and primarily rely on the community aspect to gain value. A similar project in this regard is Wall Street Memes ($WSM).
Its community unites over one million members and is inspired in part by Wall Street Bets, a Reddit subforum. The members of that Reddit forum famously decided, as small investors, to drive up the price of GameStop stock back in 2021.
That caused shockwaves in the financial world, as many hedge funds had heavily bet on the stock’s price falling and lost billions as a result of the action of a few underdog traders.
Having previously launched a successful NFT project, the Wall St Bulls on OpenSea, news emerged that members of the meme stocks movement had decided to launch a meme coin of their own. The WSM token presale began May 26, 2023.
Investors can participate in the $WSM presale at wallstmemes.com and secure Wall Street Memes Tokens at a low price before its listing on exchanges later this year. So far, over $5 million has been raised.
Visit Wall Street Memes
