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The cryptocurrency market is on the verge of a major bull run. Unsurprisingly, investors are searching for high-potential tokens that can turn them into millionaires during this bull cycle.
However, could XRP be that token, despite its large market capitalization?
A 2023 study from Valhil Capital on XRP’s fair market value is doing the rounds on social media. According to this study, the XRP price – without the SEC’s lawsuit against Ripple – could have been anywhere between $9.81 to $513k.
With the lawsuit between Ripple and the SEC in its final stages, this study is back in the spotlight, with investors wondering if they can turn their small-scale investments into millions with XRP.
Is The XRP Price Headed To $513k?
The Valhil Capital study claimed that the SEC’s lawsuit against Rippe has “harmed retail investors”, owing to the significant decline in its value since.
Valhil’s Valuation Committee built six different models to compute the Fair Market Value of XRP. As previously mentioned, the models came up with wide-ranging XRP price projections, ranging from $9.81 to $513k.
16. To our knowledge, no other analysis of this scope has been done in the digital assets space.
A diverse team (w/a variety of professional backgrounds) came together as volunteers to build a series of quantitive models to understand the value drivers for a digital currency. pic.twitter.com/XuDlNwPd2i
— Molly Elmore (@mollyelmore22) June 7, 2023
Excluding the two outliers, the maximum projected price for XRP came out at $21.9k. If true, this would mean over 36600x returns from its current price of $0.60. This would require investors to hold just $27 in XRP to reap over $1 million in profits.
However, simple mathematics proves that the figures projected by Valhil’s study are simply impossible.
XRP’s current market capitalization stands at $35 billion while it is currently trading at just above $0.60. Even a price of $1000 would put the token’s market valuation at $58 trillion. Without global hyperinflation, such as high market cap is simply out of XRP’s reach.
In reality, XRP has been one of the underperformers of this bull cycle, despite Ripple scoring several key victories over the SEC. Even after Judge Torres ruled that XRP is not a security, its price failed to reach $1 and hit a local top at $0.85.
Donald Trump’s pro-crypto stance has brought much-needed respite for the altcoin. In his Bitcoin Conference speech, Trump recently promised to fire Gary Gensler from his role as the SEC Chairman.
Consequently, a Trump presidency could reduce the likelihood of the Commission appealing Judge Torres’s ruling, giving a major boost to XRP.
However, it remains unclear whether the token will even reach its all-time high of $3.80, considering that cryptocurrencies – including low-cap gems – are showing much higher strength and are stealing the attention away from XRP.
How To Become A Crypto Millionaire In The Next Bull Run?
Large-cap cryptocurrencies such as Bitcoin and XRP can only offer limited returns, especially in the short term.
On the contrary, several small-scale investors earned millions in profits during this year’s first-quarter bull run, simply by investing in low-cap gems early. Experts believe that this phenomenon could repeat in the coming weeks, especially during the broader crypto market bull run.
Unsurprisingly, low-cap tokens and presale cryptocurrencies are surging in demand. For instance, a new meme coin Pepe Unchained (PEPU) has raised over $6.3 million in its ongoing presale.
Pepe and other frog-themed meme coins show a high correlation with Ethereum and are therefore expected to deliver high returns in the coming months.
However, Pepe Unchained has managed to separate itself from the crowd, thanks to its native Layer-2 blockchain. This chain will offer low trading costs and high staking rewards to PEPU holders, which could attract high retail investment into it.
Some popular crypto traders even believe that Pepe Unchained could offer 50x to 100x returns after its launch.
Visit Pepe Unchained Presale
*Cryptonomist did not write the article or test the platform.
