According to U.Today, Ripple's Chief Technology Officer, David Schwartz, recently emphasized the 1,500% growth of XRP over the past seven years. This statement was made in response to a user who alleged a loss on their seven-year XRP holding. Schwartz countered by stating that XRP was trading at approximately $0.033 seven years ago. If an investor had retained their XRP assets over this period, they would have seen a growth of 1,500%, equating to an annual percentage yield of 47%.
The user's claim of purchasing XRP for the past seven years was later clarified to be partially incorrect, as they had bought XRP in January 2018, following its drop from all-time highs of $3.84. XRP, the seventh largest cryptocurrency by market capitalization, has primarily underperformed in recent years. It is one of the few cryptocurrencies that did not reach all-time highs during previous and current bull cycles.
The Securities and Exchange Commission's lawsuit against Ripple in December 2020, coupled with the 2022 bear market, has reduced XRP's value. Since its peak in January 2018, XRP has lost more than three-quarters of its market value, disappointing investors and enthusiasts. Despite these challenges, including regulatory scrutiny and market volatility, XRP remains among the top 10 cryptocurrencies by market capitalization.
Schwartz's focus on XRP's 1,500% growth may not accurately reflect its past success, but it could signal its potential. At the time of writing, XRP had increased by 3.12% in the previous 24 hours to $0.5172, outperforming the top 10 cryptocurrencies in terms of daily gains.