XRP investors have endured one of the longest and most challenging periods in the digital asset market, marked by legal hurdles, poor market performance, and regulatory uncertainty. Nevertheless, many have demonstrated the level of perseverance that cryptocurrency commentator John Squire believes is remarkable.

According to Squire, "If patience were a token, XRP holders would have already become billionaires." His comment came at a time when XRP seemed finally poised to regain growth after years of decline.

Years of market pressure shape the journey of XRP

After a historic price increase of over 65,000% from March 2017 to January 2018, XRP's price performance has declined significantly. After peaking at $3.80 in early 2018, the asset has been on a continuous downtrend, reaching a low of $0.1140 in March 2020. This represents a 97% decrease from its all-time high.

Despite a price surge of 177% in November 2020, XRP faced renewed downward pressure the following month when the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple. This development caused a decline of over 65% just in December 2020, marking the largest monthly drop in the asset's history.

The SEC lawsuit not only affects price performance but also creates liquidity constraints for investors in the United States. Several major exchanges in the United States and Canada suspended XRP trading following the lawsuit.

While most leading assets capitalized on the 2021 bull run, XRP failed to reach its previous highs and was effectively sidelined. It only rose to $1.96 in April 2021, still significantly lower than its 2018 peak and unable to join the ranks of the best-performing coins in that market cycle.

Retaining investors despite market downturns

A highlight of this period is the remarkable consistency in investor interest. Data from Santiment shows there were about 986,000 XRP holders in January 2018.

Instead of decreasing as market conditions worsened, the number of holders continued to increase. The total exceeded one million in a short period and continued to rise, even amidst the turmoil caused by the SEC lawsuit.

From January 2018 to December 2022, XRP gained over 3.53 million new holders. A significant part of that growth occurred just after the lawsuit was filed, particularly in November and December 2020. While the market slowed down after the Terra collapse in May 2022, the prior increase in the number of holders signaled strong support for the asset even as price action remained weak.

A potential turning point after years of decline

From November 2024 to January 2025, XRP surged nearly 600%, becoming the highest-performing cryptocurrency among major cryptocurrencies in what CNBC described as a market-wide rally led by Trump. For some, this rally was long overdue. Although it garnered attention, long-term holders considered it merely the beginning of a much broader rally.

Among those predicting higher gains is cryptocurrency analyst BarriC. In a recent post, he emphasized that he is not interested in selling at modest prices, stating that "I did not buy $XRP at $0.10 to get completely liquidated at $2," highlighting that a $100 target is his long-term focus. This viewpoint is shared by others who believe the current trajectory of XRP reflects patterns seen in the 2017 bull cycle.

Recognition of endurance

John Squire's comments on the patience of XRP holders highlight a decisive aspect of the community's experience over the past seven years. Despite unfavorable conditions, many continued to invest.

The recent price surge may mark the beginning of a new phase. But for those who have waited through legal battles and continuous price declines, faith is a reward that has yet to appear.