Reach millionaire status with XRP?

In a recent video, analyst Cheeky Crypto delved into the intriguing question: “How much XRP do you need to retire or become a millionaire?” With the cryptocurrency market as dynamic as ever, this discussion sheds light on the potential financial implications of holding XRP.

Currently, XRP is priced at approximately 62.2 cents, with a circulating supply of around 54 billion XRP. Despite recent legal challenges, Cheeky Crypto remains optimistic about XRP’s future, anticipating a bullish move once the lawsuit with the SEC concludes.

To calculate the amount of XRP needed to achieve various financial milestones, Cheeky Crypto outlined potential price targets ranging from $5 to $589 per XRP. At $5 per XRP, one would need 200,000 XRP to reach $1 million. Meanwhile, achieving the same milestone at $10 per XRP would require 100,000 XRP, and at $12 per XRP, it would require 83,333 XRP.

“Anyone who believes XRP is going to reach $589 or even higher is that we would need to see a significant amount of money flowing in. Now, market cap is not a representation of liquidity. It does not mean that we have to see $32 trillion flowing into XRP,” he said.

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However, Cheeky Crypto also stressed the importance of realistic expectations, cautioning against overly optimistic projections. While $589 per XRP may seem enticing, he pointed out the  challenges involved in reaching such astronomical prices.

He added, “The other day I was talking about $5 to $12 being the most logical area that we’re likely to see XRP kind of rally up to. It does mean a new all-time high, and I do expect us to find a lot of resistance up in that range.”