Ripple’s XRP token appears to be bucking the overall market trend, as the asset is up 5.8% on the daily chart, 6.2% on the weekly chart, and 0.8% on the 14-day chart, while Bitcoin (BTC) is down 0.4% over the past 24 hours and continues to trade just below $58,000.
The recent rise in Ripple’s XRP token is likely due to Grayscale launching the first XRP trust in the U.S. The move has reignited discussions about the possible launch of an XRP ETF later this year. The launch of a Bitcoin ETF earlier this year opened the door to more cryptocurrency-based ETF products. An XRP ETF could propel the asset to new all-time highs.
How much XRP do you need to become a millionaire when XRP hits $7?
A roughly 1,150% increase would be needed to reach $7 from the current price, which would mark a new all-time high for XRP. The asset is currently down more than 83% from its all-time high of $3.40 hit in January 2018, more than six years ago.
To get $1 million worth of XRP at $7 per coin, you would need roughly 142,857.14 coins. Currently, the price of 142,857.14 XRP is roughly $80,000.
When will the asset reach $7?
According to analysts at Changelly, Ripple’s XRP token could hit the $7 mark in 2030, about six years from now. The platform predicts that the asset will hit a peak price of $7.54 in 2030.
