Ripple’s XRP token is facing a significant price correction right now. The asset is down by 2.3% in the daily charts, nearly 15% in the weekly charts, 9.6% in the 14-day charts, and no changes over the previous month. Despite the dip, the asset is up by a mere 1.5% since October 2023.
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Why Is The Crypto Market Down Today?
The cryptocurrency market experienced a resurgence over the weekend after positive jobs data on Friday. However, the rally did not last, and today, XRP and other assets glowing red-faced a correction.
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The current dip is likely due to the US Supreme Court refusing to accept the case on the over 69,370 Bitcoin (BTC), worth around $4.4 billion, seized from the Silk Road dark web marketplace.
The US government may sell the $4.4 billion worth of BTC. Market participants may expect a price dip if the US government decides to sell the seized BTC. The development has led to crypto assets such as Ripple’s XRP taking a hit.
How To Be A Millionaire With XRP By 2028?
According to Changelly, XRP could hit a potential maximum price of $3.57, a new all-time high. To have one million dollars worth of XRP at $3.57 per coin, you will need about 280,112.044 coins. The price of 280,112.044 XRP right now is about $145,658.26. If successful, your portfolio’s value will surge by around 586.5%.
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The analysts at Telegaon are more bullish on Ripple’s XRP token than Changelly. The platform predicts the asset will trade at a maximum price of $7.84 in 2028. To have one million dollars worth of XRP at $7.84 per coin, you will need about 127,551.02 coins. The price of 127,551.02 XRP right now is about $66,326.53. In this scenario, your portfolio’s value will surge by around 1407.69%.
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