XRP price has been in a strong surge in the past decade, making it one of the best-performing assets globally. It has surged by over 53,920% since its inception, transforming it into an asset valued at over $189 billion. This article explores whether Ripple can make you a crypto millionaire if you started with $10,000.
XRP Price to Transform $10k Into $1 Million
XRP price was trading at $3.20 on Monday, up by over 96% from its lowest point in April this year. This means that a $10,000 investment would give you 3,125 XRP tokens at current prices.
To transform those tokens into $1 million, the XRP price would need to be $320, representing a 9,900% surge from the current level. Assuming that the XRP tokens in circulation remain unchanged, a 9,900% surge would bring its market capitalization to over $18.9 trillion.
In theory, that market cap seems impossible, as it is significantly more than the combined market cap of all the Magnificent 7 companies. It is also much higher than that of the current crypto market capitalization.
However, the reality is that the XRP price has already demonstrated its ability to surge, as it has jumped by over 54,000% since its inception. Additionally, the cryptocurrency industry has shown that such parabolic moves are indeed possible.
XRP price surged by over 500% in November last year, while the Pudgy Penguins (PENGU) token has jumped by over 1,000% from its lowest point in May. Most recently, the Spark token price jumped by over 533% from its lowest this month to its highest level.
Most importantly, no one would have predicted that Bitcoin would evolve into a $2.3 trillion asset, the 6th largest globally, after gold, NVIDIA, Microsoft, Apple, and Amazon.
Ripple Price Short-Term Target
XRP price chart | Source: TradingView
It will take years or decades for a $10k investment in XRP to become $1 million, making a short-term forecast necessary.
The daily chart indicates that the price of Ripple has remained within a tight range over the past few days. It retreated from a high of $3.6682 on July 21 to its current level of $3.2.
On the positive side, the token has formed a highly bullish cup-and-handle chart pattern. This pattern comprises a horizontal resistance level at $3.3863 and a rounded bottom at $1.6238.
It is now forming the handle section of this pattern and is above the 50-day and 100-day moving averages. Therefore, the token is likely to continue rising, with the next key point to watch being at $5.13. This target is identified by first measuring the cup’s depth and then the same distance from its upper side.
READ MORE: Bitcoin Price Prediction: Top Reasons BTC Will Surge This Week
