Ripple’s XRP token has had a few rough years. XRP’s price has failed to breach the $1 in almost three years. The lackluster performance in the last few years is likely due to the SEC’s lawsuit against the fintech company. The SEC accused the company of selling unregistered securities and filed a lawsuit in December 2020.
Also Read: US Dollar Dominates, But De-Dollarization Advances Rapidly
The lawsuit was recently settled, and Ripple paid a $125 million fine. With the lawsuit out of the way, XRP may finally reveal its full potential. Let’s discuss when $1500 worth of the token will become $1 million.
When Can $1500 Worth of XRP Become $1 Million?
Source – Coinpedia
If you purchase $1500 worth of XRP right now, you will receive about 2586.20 coins. For 2586.20 coins to be worth a million dollars, the price of each coin has to reach $386.66.
Also Read: Chainlink Climbs 17% In One Week: How High Will LINK Go?
The question now becomes when will Ripple’s XRP token hit $386.66. For XRP to hit $386.66 from current price levels, the asset will have to rally by about 66,565.52%.
When Will The Asset Hit $386.66?
According to Telegaon analysts, Ripple’s XRP token will not hit the $386.66 mark anytime before 2040. The platform anticipates the asset to reach a maximum price of $50.34 in 2040. Going by Telegaon’s timeline, it may be a long time before XRP hits the triple-digit price point.
Source: Telegaon
Also Read: Can Solana (SOL) Rise To $300 in 2024?
Changelly analysts are more bullish on XRP than Telegaon’s. The platform anticipates the asset to breach the $300 mark sometime between 2033 and 2040. Telegaon predicts XRP to hit a maximum price of $413.67 in 2040, about 16 years from now.
Source: Changelly
There is a possibility that XRP will hit the $386.66 target much sooner than predicted, given positive market conditions and a growing adoption for the token.