The price of XRP, the cryptocurrency asset created by Ripple, has surged 87% over the last seven days, reaching new one-month and one-year highs. The token’s value has increased significantly due to optimism about a new administration in the White House and potential approval for an XRP exchange-traded fund (ETF).
Ripple’s partnerships with financial institutions are also being cited as a reason for the recent price increase. Additionally, investors are excited about the prospect of a larger spotlight on XRP, which could lead to increased exposure and investment opportunities.
While XRP has experienced significant growth in 2024, its current price still trails its all-time high of $3.84 set in January 2018. The token’s value is now at $2.86 per coin, according to recent data.
Interestingly, Ripple Labs hosted a private event at the Consensus conference in 2018, which featured a performance by rapper Snoop Dogg. Although it was not explicitly stated that Snoop Dogg endorsed XRP, his appearance may have sparked interest in the cryptocurrency among investors.
A hypothetical investment of $1,000 in XRP on May 15, 2018, would be worth approximately $3,429.49 today, based on current prices. This highlights the potential for significant returns on investment if XRP continues to grow in value.
As the situation develops, it’s essential for investors to stay informed and monitor market trends. The continued strength of XRP and the potential approval of ETFs could lead to higher prices for the cryptocurrency in the future.
Source: https://www.benzinga.com/24/12/42303487/if-you-invested-1000-in-xrp-token-when-snoop-dogg-performed-at-ripple-community-event-at-consensus-2018-heres-how-much-youd-have-today