• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
Ripple's Chief Technology Officer Reveals Specifics of 1 Million XRP Purchase at $0.005

Ripple's Chief Technology Officer Reveals Specifics of 1 Million XRP Purchase at $0.005

user avatar

by Max Nevskyi

3 years ago


The revelation surfaced in response to a query from Alex Cobb, a prominent figure and trader within the XRP community. Cobb had turned to X to inquire about the lowest prices at which fellow XRP enthusiasts had acquired the cryptocurrency.

Among the responses from community members, figures like $0.11, $0.13, and $0.17 were mentioned. However, the disclosure that truly stood out came from David Schwartz. He disclosed an astonishing fact that his father had acquired more than 1 million XRP tokens back in April 2014, paying a mere $0.005 per XRP.

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

The recent revelation has sparked a flurry of reactions within the XRP community, primarily due to the substantial returns this investment could have yielded if purchased and held for an extended period. Notably, the current price of XRP represents one of its lowest points, and historical data confirms that the cryptocurrency traded at this level back in April 2014.

To provide some context, it's worth noting that XRP experienced a significant surge to $0.0614 on December 5, 2013, shortly after its introduction to the market. However, the cryptocurrency subsequently underwent a correction over the following months, reaching a low point of $0.00538 in the last week of April 2014. It's reasonable to assume that Mr. Schwartz's father acquired these tokens during this period.

To put things into perspective, let's imagine he purchased 1 million XRP at that time, which would have cost $5,000 at the rate of $0.005 per XRP. If he had held onto these tokens until XRP's all-time high of $3.3 in January 2018, their value would have skyrocketed to an astonishing $3.3 million, resulting in a profit of over $3.2 million.

Even if he had continued to hold onto these assets until today, they would still be valued at $507,000, considering XRP's current price of $0.5074. While the value of these tokens may have fluctuated since January 2018, the investment would still have seen an impressive increase of 10,048% if maintained.

Schwartz's disclosure serves as a reminder of the allure of entering a market at an early stage. Like many other cryptocurrencies, XRP has proven its resilience over time, delivering substantial returns to those who adopted it early on. Despite the recent market turbulence, the cryptocurrency is still up by a remarkable 18,126% from its all-time low.

Now, the burning question on the minds of most investors is whether XRP still has the potential for another significant upswing. Several analysts have made optimistic projections, suggesting the possibility of astronomical price rallies, such as reaching $39, $90, or even $249 in the future.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Trump Media's Revenue Growth Remains Minimal Amid Crypto Losses

chest

Trump Media Technology Group's core media business reported a revenue of only 871,200 in the first quarter of 2026, reflecting a modest increase from 821,200 in the same period last year, while struggling with substantial losses in cryptocurrency investments.

user avatarAisha Farooq

Trump Media Reports Major Financial Losses in Q1 2026

chest

Trump Media Technology Group reported a net loss of 406 million in Q1 2026, primarily due to unrealized losses on digital assets.

user avatarLi Weicheng

Trump Media Technology Group Faces Significant Stock Decline

chest

Trump Media Technology Group's stock has dropped over 90% from its peak, exacerbated by CEO Devin Nunes' resignation, leading to financial challenges and loss of investor confidence.

user avatarTenzin Dorje

Strategy CEO Discusses Potential Bitcoin Sales

chest

Phong Le, CEO of Strategy, discusses potential scenarios for selling Bitcoin holdings to finance dividend payments and adapt to market conditions.

user avatarBayarjavkhlan Ganbaatar

USDT Sees Significant Outflow from Exchanges, Indicating Investor Repositioning

chest

USDT experiences significant outflow from exchanges, indicating potential shifts in investor behavior.

user avatarMohamed Farouk

Ethereum Price Predicted to Surge Above $10,000

chest

Crypto analyst Crypto Patel forecasts that Ethereum's price could reach between $10,000 and $15,000 this cycle, driven by institutional adoption and changing market dynamics.

user avatarElias Mukuru

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.