The cryptocurrency industry is finally opening up new arenas and is on the path to recovery. As Bitcoin (BTC) plunged beyond $100,000 yet again, the rest of the market followed suit. Ripple’s XRP stood out for its notable uptick over the past day. While the overall market sentiment contributed to this rise, the approval to roll out the RLUSD stablecoin also played a role. Amidst this, investors considered the altcoin a long-term investment to garner increased gains.
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XRP’s Volatile Market
Over the 24 hours, the price of Ripple’s cryptocurrency has witnessed several fluctuations. The asset went from trading at a low of $2.33 all the way to $2.48. Throughout the past day, the altcoin has surged by nearly 4% and was trading at $2.43 at press time. Despite this, the trading volume of XRP recorded a 45% downfall at $13 billion.
Similar to the rest of the market, XRP had a challenging weekend. The asset dropped below the $2 mark all the way down to $1.92. During this time, several large investors decided to make the most of this dip. According to cryptocurrency analyst Ali Martinez, whales in the XRP market decided to purchase more than 100 million XRP.
Whales or large investors buying an asset during its downtrend highlight the potential of that particular cryptocurrency. These investors could be expecting to see a major rise in the future.
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Can $100 Today Turn Into A Million?
While the cryptocurrency isn’t short of rags-to-riches stories, the above scenario is highly unlikely. According to data from CoinCodex, XRP is expected to trade in a range of $5.23 to $6.46 in 2030. The altcoin will reach this high in the month of March. This further resulted in an average yearly price of $5.67. Compared to the present rates, this may yield a potential return on investment of 166.27%.
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If $100.00 is invested in XRP now and held until March 27, 2030, the investor could potentially make $166.06. This would translate to a 166.06% return on investment over the following 1930 days.
