Ripple CTO Unveils Father's Million-Token XRP Buy at Historical Low, Stirring Waves in Crypto Community

The $XRP community has been abuzz with a recent revelation from Ripple’s CTO David Schwartz, who responded to a question from popular cryptocurrency influencer Alex Cobb on the lowest price ever paid for a single XRP token.

Among the flurry of responses, a figure well-versed in the XRP community, Schwartz noted that his late father bought “over a million XRP” in April of 2014 for just $0.005 per token, sparking a cascade of reactions, with most fueled by the potential returns of such an early investment into the cryptocurrency.

It’s noteworthy that this investment was made at a time when XRP was trading near its historical lows, a fact corroborated by market data from that period.  The cryptocurrency’s price had traded at $0.061 in December 2013, shortly before it started enduring a correction that saw it drop to that level.

Notably, the price of XRP is now $0.521, which means that the investment of an estimated $5,000, which were enough to acquire 1 million tokens at the price of $0.005 each, would have now ballooned to around $520,000.

The tokens were notably worth over $3.3 million at the time of the cryptocurrency’s all-time high, which means at one point the acquisition was at one point seeing returns of over 65,000%. At the time of writing – assuming Schwartz hasn’t divested of the tokens – the returns are of over 10,300%.

As CryptoGlobe reported, a popular cryptocurrency analyst Dark Defender has predicted that the price of the native token of the XRP Ledger, $XRP, could surge as much as 32% over this week to hit $0.66 after the cryptocurrency reaches its next Fibonacci level.

Earlier this month popular analyst Egrag Crypto shared an XRP price prediction  pointing to an impressive price surge of over 1,000% for the cryptocurrency to trade at the $6.7 mark in the future, as it’s been holding above a 10-year trendline support on its monthly chart.

Another analyst said in a video the native token of the XRP Ledger has been following the path of most other digital assets in trading sideways, but could soon breakout as did other digital assets including MakerDAO’s $MKR.

Featured image via Pixabay.

Source: Read Full Article