Prominent XRP community figures have recently debated the quantity of XRP tokens capable of making holders millionaires in the coming years when the asset hits the wildly projected moon values.
Pro-XRP influencer Kenny Nguyen sparked the conversation in a recent post on X. Nguyen highlighted that he has consistently received inquiries over the years regarding how much XRP one needs to hold to attain millionaire status. He reiterated his consistent response, noting that 500 XRP can make one a millionaire.
At XRP’s current prevailing market value, 500 XRP is worth merely $312. In other words, Nguyen believes a $312 investment in XRP today can potentially make an investor $1,000,000 someday.
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For such to happen, the asset would need a market value of $2,000, necessitating a 319,643.7% growth from XRP’s current $0.6242. Yet, the attached image to the tweet subtly suggests that Nguyen’s words may not be taken at face value.
Technical Analyst Disagrees
Meanwhile, crypto analyst JD contested Nguyen’s view. He argued that owning approximately 100,000 to 200,000 XRP could lead to millionaire status in the upcoming market cycle.
Honestly.. about 100k-200k XRP would make you a millionaire this coming cycle brotha. 500 XRP assumes $2000/XRP. Highly unlikely per technicals. Majority of the #XRPcommunity will get REKT to be honest.. its gona be a FUN but very sad ride for most ?
— JD ?? (@jaydee_757) December 29, 2023
In parallel, JD pointed out that the assumption of 500 XRP making someone a millionaire is based on a high XRP price of $2000. He asserted that such a scenario is hypothetical, and its likelihood is deemed improbable according to technical indicators.
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Notably, obtaining 100,000 to 200,000 XRP tokens currently necessitates an initial investment ranging from $62,420 to $124,840. If this XRP portfolio were to reach $1,000,000, it would suggest that the asset had attained a market value in the range of $5 to $10.
Put differently, the technical analyst holds the belief that XRP has the potential to experience a growth of 1,500% to reach a value in the double-digit threshold during the upcoming bull season. This perspective is shared by several other crypto analysts.
Disclaimer: 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 The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
