History Shows XRP Could Still Create Millionaires Despite Dip to $1.64
While XRP and the broader crypto market are experiencing a historic sell-off with depressing prices, historical data paints a promising future.Today, the price of XRP dropped to $1.64 for the first time since November 2024. The fall marks a massive one-day drop of 22% from the $2.10 level. Bitcoin also dipped to $74K, representing a five-month low.The latest bearish turnaround further worsened Ethereum's position. It has now dropped by 60% in the last 90 days alone, crashing to $1,400, a low not seen since early 2023.As the sell-off intensifies, influential figures in the crypto community urge market participants to resist the temptation to panic-sell and consider the market in its historical context.Historical Crisis Period That Made XRP and Bitcoin Holders MillionairesIn a tweet, Good Morning Crypto host Abdullah Nassif drew attention to the market turmoil of the 2019 COVID era. He pointed out that Bitcoin bottomed at $3,850 during the market tension at the time. Likewise, Ethereum traded as low as $100, while XRP was at $0.11.According to him, within a few years, these tokens saw their prices soar dramatically and went on to make steadfast holders millionaires.Indeed, since Bitcoin touched $3,850 that year, it has never been seen at that low point, even after a bear market cycle. The price soared to as high as $69K at the peak of the 2021 cycle and $110K at the peak of this cycle.This represents a 1,700% surge and a 2,757% surge in both cycles. In perspective, someone with $40,000 invested in Bitcoin in 2019 could have seen their holding worth over $1 million in January 2025.Likewise, a similar success story occurred with XRP. XRP has not traded at $0.11 since March 2020, even after the SEC brought a lawsuit against it. Since then, XRP's price has improved to $1.96 at the peak of the 2021 season and $3.40 this season.This means a notable growth of approximately 30X. A $40,000 investment in XRP as of 2020 would have been worth over $1.236 million as of January 2025.Can XRP Still Make Millionaires?Currently, the global market is undergoing another crisis impacting investor sentiment. However, given these historical contexts, pundits believe that in a few years, the panic about the present values of XRP and other crypto assets could become irrelevant. They expect them to improve substantially. Community member Bunny expressed a similar optimism. He noted that making new investments during crises takes guts, but history shows that they often reward one handsomely.Notably, if XRP engineers another 30X growth from here, those holding $40,000 worth of XRP (or 22,500 XRP at current prices) could see their portfolio cross the million-dollar threshold. This would imply a unit price of over $50.https://twitter.com/twetfy/status/1909062892785193100
Text source: The Crypto Basic
