$100 Invested in Ripple XRP Grows to $1.4 Million in February 2024

One of the most widely used cryptocurrencies on the market is Ripple’s XRP currency. However, starting in 2024, XRP had a huge correction. The asset has decreased by 2.5% over the past month, 3.6% over the past week, over 12% over the past 14 days, and by over 2% over the daily and weekly charts. Nonetheless, starting January 2023, the asset has continued to rise, rising 22.4% in the past year.

$100 Invested in Ripple XRP Grows to $1.4 Million in February 2024
Source: Ripple Coin News
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The Ripple XRP token is not a brand-new venture. More than ten years ago, in 2013, the asset started trading. If you had invested $100 per week in XRP starting in September 2013, you would have made $54,300 by this point. But the value of the portfolio would have increased to $1.44 million. A rise of 2564% would have resulted from the increase in value.

Furthermore, you would have invested $22,700 if you had continued to invest $100 every week until January 2018, when XRP peaked. Nonetheless, the investment would have increased in value by 23,311% to $5.3 million.

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The value of Ripple’s XRP has decreased by more than 85% since it reached its peak on January 7, 2018, at $3.40. It’s important to remember that in 2021, when many other cryptocurrencies were reaching record highs, XRP did not reach a new peak.

Source: Crypto DCA

The US Securities and Exchange Commission’s (SEC) ongoing legal action against Ripple may be the reason for XRP’s lack of movement in 2021. The selling of XRP, according to the SEC, violates securities laws. But a US district judge said last year that selling XRP to retail customers did not violate any laws.

Investors are awaiting the outcome of the action, which has not yet reached the top court. The price of XRP might rise sharply if the high court follows the district court’s decision.

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Additionally, Ripple has partnered with a number of financial institutions, which can raise the price of XRP. The fintech business works on initiatives using CBDCs (Central Bank Digital Currency). Additionally, because XRP is one of the most often used currencies for international remittances, it has a large global following.

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