Ripple’s XRP is currently trading at around $0.50 – an important psychological and technical resistance level, after increasing 2% in the past week.
XRP has been part of the top 10 cryptocurrencies by means of total market capitalization for years now, meaning that those who managed to invest early probably saw a considerable return.
But there’s one interesting purchase that not a lot may have known about.
One Million XRP Bought at $0.005: Ripple CTO Shares Details
Online flexing in the cryptocurrency industry usually comes in the form of who bought a specific cryptocurrency at the lowest price and realized the most gains.
In a recent post on X, the cryptocurrency trader Alex Cobb prompted his community to answer what the lowest price they paid for a single XRP is.
The answers were pretty interesting.
Some people said they bought at $0.11, at $0.07, while Cobb himself said that his “most legendary moment” was when he put $1,000 at $0.12.
The answer that received the most serious engagement, however, was that of David Schwartz – the CTO of Ripple. He said:
My father bought over a million XRP in April of 2014 from Justcoin at about a half penny per XRP.
In essence, his father spent around $5,000, which is currently worth around $500,000 at the current prices – a nice return of almost 10,000%.
Jokingly, someone even implied that Cobb is actually impersonating an IRS agent.
My father bought over a million XRP in April of 2014 from Justcoin at about a half penny per XRP.
— David “JoelKatz” Schwartz (@JoelKatz) October 3, 2023
XRP’s Future: How Does it Look Like?
In one of our more recent videos, we decided to talk to ChatGPT on the matter of how high XRP can go during the next bull market. You can take a look at the short clip here:
In addition, we recently compiled a list of some of the top XRP price predictions that were made in the month of September. Some of them are truly shocking. For instance, an analyst suggested that it could reach $500 in the next few years.
Find out more about them in our latest article.
