Amid a broader market bull run, XRP has performed admirably. Although it saw a later bullish move than most of its peers, since December 4, prices have risen from $0.503 to approximately $2.68 at the time of this publication, an increase of 423.80%. As it currently stands, XRP has seen returns of 337.18% year-to-date (YTD).
There have been quite a few positive developments for XRP lately: On December 10, RLUSD, a stablecoin that will be pegged 1:1 to the US dollar, received final regulatory approval.
Donald Trump’s re-election is widely seen as a positive catalyst for the crypto market in general, but XRP in particular will benefit. Trump has named Paul Atkins, a cryptocurrency advocate, as the next chairman of the Securities and Exchange Commission. If confirmed, Atkins’ tenure would certainly be a dramatic shift from current Chairman Gary Gensler’s stricter stance, particularly in light of Ripple Labs’ ongoing legal dispute with the regulatory body.
However, that was not a foregone conclusion, and investors who took the risk of getting in early have secured a nice windfall. This is what a $1,000 investment in XRP would be worth on December 17, 2024.
The investment: $1,000 in XRP on January 1, 2021
For starters, 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 this publication, that amount of XRP is worth approximately $11,327 or, in other words, a profit of $10,327.
As impressive as that would have been, it pales in comparison to what would be the perfect moment. XRP’s all-time high price of $3.40 was actually reached before January 1, 2021. In December 2017, XRP was trading at $0.25322 and entered a parabolic rally: on January 6, 2018, reached the all-time high.
By 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 about $13,426) for a profit of $12,426.
While it’s fun to speculate and reflect, trying to time the market has historically been a difficult task. Readers should note that even in the volatile and hyped cryptocurrency market, theses based on analysis, utility, and due diligence are the only reliable paths to sustainable profits.
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