LONDON (IT BOLTWISE) – The cryptocurrency XRP, made famous by Ripple, has overcome both legal and political hurdles in recent years. With a pro-crypto White House and a partial victory against the SEC, confidence in XRP’s potential is growing. But can this cryptocurrency really generate millions in profits for investors?
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The cryptocurrency XRP, which is closely linked to the company Ripple, has undergone remarkable development in recent years. Originally designed as a bridge currency for global payments, XRP offers a fast and cost-effective alternative to traditional financial systems such as the SWIFT network. While SWIFT relies on numerous intermediaries that slow down the process and make it more expensive, XRP allows transactions to be processed almost instantly.
A key milestone for XRP was the partial victory in the legal dispute with the US Securities and Exchange Commission (SEC). The company filed a lawsuit against Ripple in 2020, claiming that XRP was sold as an unregistered security. Uncertainty about the outcome of the case led to many exchanges suspending trading in XRP. But in 2023, a federal judge ruled that selling XRP on secondary markets did not count as a securities transaction, giving Ripple a significant advantage.
In addition to legal clarity, the election of Donald Trump as US President in 2024 has further boosted the market. His pro-crypto stance has boosted confidence in speculative tokens like XRP. These developments have helped bring XRP back into the spotlight among investors looking for the next big thing in the crypto market.
But despite the positive developments, the question remains whether XRP actually has the potential to make investors millionaires. To achieve this, XRP’s market value would have to increase 242x, which would be a total value of $36.4 trillion. This would be an unprecedented valuation that would dwarf even the largest global companies. Given these numbers, it seems unlikely that XRP can generate such returns based on its current characteristics alone.
For long-term investors, it might therefore make more sense to focus on established cryptocurrencies such as Bitcoin, which offer a more stable foundation and more predictable growth prospects. Nonetheless, XRP remains an exciting project that continues to attract attention through its innovative technology and recent litigation successes.
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