In the midst of the broader market bull run, XRP has outperformed. Although the move higher came later than most of its peers, prices have risen from $0.503 since December 4th to around $2.68 at the time of publication—a rise of 423.80%. Currently, XRP’s year-to-date (YTD) return is 337.18%.
There have been quite a few positive developments for XRP lately: On December 10, RLUSD, a stablecoin that is slated to be pegged 1:1 to the US dollar, received final regulatory approval.
The re-election of Donald Trump is widely seen as a positive catalyst for the broader cryptocurrency market, but XRP in particular could benefit. Trump has nominated Paul Atkins, a cryptocurrency advocate, to be the future chairman of the Securities and Exchange Commission. If confirmed, Atkins’ tenure would certainly mark a sharp departure from current chairman Gary Gensler’s more hard-line stance – especially in light of Ripple Labs’ ongoing legal dispute with the regulator.
However, it was not a foregone conclusion – and investors who took the risk by getting in early secured a windfall. Here’s how much a $1,000 investment in XRP would be worth on December 17, 2024.
Investment: 1000 USD in XRP on January 1, 2021.
To begin with, on January 1, 2021, XRP was trading at a much lower price—$0.23744 to be exact. Now, as of press time on December 17, prices have skyrocketed to $2.68, representing an increase of 1028.70%.
A $1,000 investment made on January 1, 2021 would have netted traders approximately 4,211 XRP. At the time of publication, this amount of XRP was worth approximately $11,327 – or, in other words, a profit of $10,327.
As impressive as that is, it pales in comparison to what would have been a perfect moment. In December 2017, XRP traded at $0.25322 and entered a parabolic rally, reaching an all-time high by January 6, 2018.
In comparison, a $1,000 investment made in December 2017 would have netted investors approximately 3,949 XRP, which after the rally would have been worth around $13,426 for a profit of $12,426.
While it’s fun to speculate and speculate, trying to time the market has historically been a challenging task. Readers should note that even in a volatile and hype-laden cryptocurrency market, thesis based on analysis, utility and due diligence are the only reliable paths to sustainable profits.
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