The XRP price has performed well over the past few weeks, jumping from a low of $1.62 this month to $2.20 today, a 30% surge. It has been one of the best-performing cryptocurrencies, jumping by over 655% from its lowest level in 2023. This surge has brought its market cap to over $140 billion.
This article examines whether the XRP price has more upside by 2030 and whether it could potentially turn a $ 10,000 investment into $1 million, or 100 times that amount. Besides, the coin has increased in value by almost 40,000% since 2012, when it started trading at $0.0055.
Bullish Catalysts For XRP Price by 2030
The XRP price has numerous catalysts that may push it higher in the long term. First and most importantly, analysts are optimistic that Bitcoin will continue to soar in the long term as demand from investors increases. For example, ETF demand has jumped by over $38 billion since January last year.
Bitcoin demand is soaring at a time when its supply is falling, as the mining difficulty increases, which will accelerate further when the next halving occurs. More gains in Bitcoin will lead to increased momentum for altcoins like XRP.
Second, by 2030, the SEC is expected to approve spot exchange-traded funds (ETFs), which are likely to attract substantial inflows. JPMorgan analysts estimate that these funds may have at least $8 billion in inflows in the first year. Recently, the Teucrium 2x Long Daily XRP ETF (XXRP) added over $42 million in assets just a few days after its launch.
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Furthermore, Ripple Labs aims to become the largest player in the payment sector by inking more deals with companies such as banks and money transfer firms. Ripple Labs aims to utilize its advanced technology to become a better solution than SWIFT. This growth will enhance XRP by increasing its burn rate and utility.
The XRP Ledger network is also likely to become a big player in the crypto industry, offering a viable alternative to other networks like Ethereum and Solana.
XRP Price Technical Analysis
The all-time chart shows that the XRP token initially jumped to a record high of $3.3420 in 2018. It then dropped to $0.085 in March 2020 and recovered to $1.9690 during the 2021 crypto market rally.
The XRP price jumped to a record high of $3.40 earlier this year and has now retested its highest level of 2021. A break-and-retest pattern is a popular bullish continuation sign in technical analysis. This pattern often indicates a potential upward trend.
The distance between the all-time high and the 2020 low is about 100%. Therefore, measuring the same distance from $3.3420 means that the coin will eventually rise to $6.70, up by 210% above the current level.
For XRP to turn a $10,000 investment into $1 million, its price would need to hit $220. This scenario is improbable as it would result in a market valuation of $22 trillion.
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