xrp cryptocurrency price

If You’d Invested $1,000 in XRP 5 Years Ago, Here’s How Much You’d Have Now

If You'd Invested $1,000 in XRP 5 Years Ago, Here's How Much You'd Have Now
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Has XRP repaid early investors, or did a SEC lawsuit cause irreparable damage?

XRP is a cryptocurrency that got enthusiasts excited right from the start. It is the original currency of Ripple, an ambitious payment system that aims to replace SWIFT as a method used by banks for international money transfers.

The project was not without its setbacks. In particular, the Securities and Exchange Commission (SEC) filed a lawsuit against Ripple at the end of 2020 for selling unregistered securities, specifically its XRP. This led to it being delisted from most cryptocurrency exchanges, a significant drop in prices, and somewhat quieter 2021 so far compared to other popular currencies. While Bitcoin, Ether, and many other cryptocurrencies have reached all-time highs, XRP is nowhere near its 2018 peak.

Despite the fact that XRP did not set any new records, it did well for those who entered early. If you bought $1,000 five years ago, it would be worth six figures now.

Growth of a $1000 investment in XRP

Five years ago, you could buy XRP for just over half a penny. At this low price, a $1,000 purchase would net about $173,000.

The price of XRP is now $0.85. Thanks to this huge increase, your previous investment of $1,000 will now be valuable Over $147,000.

This is an increase of over 14000%, which shows how much money can be made in the right cryptocurrency. However, as you will see from the XRP price history, it is not always easy to know when to buy and sell.

XRP Price History

Here are the most notable price points that XRP has reached over the years:

  • The closest recorded price of XRP on CoinMarketCap was $0.005874 on August 4, 2013. Aside from some short price jumps, it will stay below $0.01 through 2017.
  • The second quarter of 2017 was the first big break for XRP. Ripple has added several financial institutions to its payments network and decentralized its XRP ledger. In May of that year, prices reached over $0.40.
  • XRP surged higher at the end of 2017 during the crypto boom. On January 4, 2018, it reached $3.84, which is still an all-time high.
  • The price collapsed just as quickly as it rose, and was less than a dollar by the end of January 2018.
  • While there have been occasional price increases, XRP has been on a downtrend and was worth less than $0.15 in March of 2020.
  • With the cryptocurrency entering a bull market in the second half of 2020, XRP followed suit and topped $0.75 in November. But a lawsuit brought by the Securities and Exchange Commission killed its momentum and sent the price below $0.30 in December.
  • XRP rebounded in 2021, approaching the $2 level in April.

Is XRP a good buy?

XRP was a great investment for buyers who got in early enough, and especially for anyone who sold at its peak in early 2018. That’s the past, though. It’s hard to judge whether it’s a good investment now.

One point in XRP’s favor is that Ripple has secured hundreds of partnerships with its international payments technology. Among the most prominent partners are:

  • American Express
  • American bank
  • Santander

Many of them use Ripple, not necessarily XRP, but Ripple’s success is still good news for its cryptocurrency.

On the other hand, XRP has a cloud hanging over it with the SEC claim. Because of this lawsuit, most cryptocurrency exchanges do not allow you to buy and sell XRP. This includes the largest US exchange, Coinbase, which suspended XRP trading in January. Even if you want to buy XRP, it is not easy, although Coinmama is one of the exchanges that offers it.

The half-cup full scene is that if Ripple outruns the lawsuit, XRP could be due to a price increase. But as it stands now, it’s still a gamble. If you decide to buy any of them, be sure to put only what you feel comfortable losing.

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