An XRP community commentator has suggested that investors buying XRP at the current price is similar to procuring Bitcoin during its early days.
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Notably, this commentary comes when XRP is witnessing range-bound movements amid a general market lull. Interestingly, Bitcoin (BTC) recently staged a recovery effort, surpassing $97,000 for the first time in nearly two months. However, XRP’s price action failed to reflect this rebound, triggering fresh concerns among investors.
Community commentators like the one who calls himself “Time Traveler” look to discourage such concerns, pointing to XRP’s potential for massive growth. In his latest commentary, “Time Traveler” compared XRP’s current position to Bitcoin’s early days despite the former already being over a decade old.
Buying XRP Now is Like Buying Bitcoin in Its Early Days
The analyst acknowledged that some XRP holders do not expect their modest balances to amount to much in the future. This is particularly natural, as modest holdings such as 1,000 to 10,000 XRP might not yield life-changing gains even if XRP claims two-figure targets like the $27 goal.
However, “Time Traveler” believes XRP has the potential to reach price targets that could transform these modest balances into fortunes. The analyst cited Bitcoin’s historical performance in his commentary.
He pointed out that Bitcoin had a historic low of $0.05 in July 2010. At this price level, if an investor had committed a meager $0.01 (1 penny) to Bitcoin, he would have amassed 0.2 BTC. However, with Bitcoin trading for $94,042 at the time of the analysis, this 0.2 BTC would be worth $18,808, a massive ROI of 188,079,900%.
Moreover, if an early adopter had invested more into Bitcoin at the time, say just $50, he would have procured 1,000 BTC tokens. At the price of $94,042, these 1,000 tokens would appreciate to around $94 million, transforming a modest investment into a fortune.
Drawing on Bitcoin’s impressive ROI over the past decade and a half, “Time Traveler” suggested that XRP could follow a similar pattern. According to him, procuring XRP below the ambitious $100 mark or even $5 would be like buying Bitcoin when it traded at its historic lows.
Optimism Around XRP’s Future
This daring comparison comes on the heels of growing optimism that XRP could see substantial gains in the future. For instance, several market analysts have insisted that XRP has the potential to hit $100. Alpha Lions Academy’s Edoardo Farina even suggested in March that XRP ought to be trading above $100 under normal circumstances.
Most recently, community figure BarriC noted that he bought XRP at lower prices to cash out at lofty targets of $100 and $1,000, not to be shaken out at $2. Meanwhile, analysts at crypto platform Changelly see XRP reaching $100 between 2034 and 2040, and $1,000 by July 2040.
DisClamier:
This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect @Lachakari_Crypto opinion. Readers are encouraged to do thorough research before making any investment decisions. @Lachakari_Crypto is not responsible for any financial losses.
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