Ripple CTO Unveils Father’s Million-Token XRP Buy at Historical Low, Stirring Waves in Crypto Community

The $XRP group has been abuzz with a current revelation from Ripple’s CTO David Schwartz, who responded to a query from widespread cryptocurrency influencer Alex Cobb on the bottom value ever paid for a single XRP token.

Among the many flurry of responses, a determine well-versed within the XRP group, Schwartz famous that his late father purchased “over 1,000,000 XRP” in April of 2014 for simply $0.005 per token, sparking a cascade of reactions, with most fueled by the potential returns of such an early funding into the cryptocurrency.

It’s noteworthy that this funding was made at a time when XRP was buying and selling close to its historic lows, a reality corroborated by market information from that interval.  The cryptocurrency’s value had traded at $0.061 in December 2013, shortly earlier than it began enduring a correction that noticed it drop to that stage.

Notably, the worth of XRP is now $0.521, which implies that the funding of an estimated $5,000, which had been sufficient to accumulate 1 million tokens on the value of $0.005 every, would have now ballooned to round $520,000.

The tokens had been notably price over $3.3 million on the time of the cryptocurrency’s all-time excessive, which implies at one level the acquisition was at one level seeing returns of over 65,000%. On the time of writing – assuming Schwartz hasn’t divested of the tokens – the returns are of over 10,300%.

As CryptoGlobe reported, a well-liked cryptocurrency analyst Darkish Defender has predicted that the worth of the native token of the XRP Ledger, $XRP, could surge as much as 32% over this week to hit $0.66 after the cryptocurrency reaches its subsequent Fibonacci stage.

Earlier this month widespread analyst Egrag Crypto shared an XRP value prediction  pointing to an impressive price surge of over 1,000% for the cryptocurrency to commerce on the $6.7 mark sooner or later, because it’s been holding above a 10-year trendline help on its month-to-month chart.

One other analyst mentioned in a video the native token of the XRP Ledger has been following the trail of most different digital property in buying and selling sideways, however could soon breakout as did different digital property together with MakerDAO’s $MKR.

Featured picture through Pixabay.