1 Million XRP Coins Acquired at $0.005 Per XRP in 2014, Ripple CTO Reveals Remarkable XRP Purchase

David Schwartz's response to a question by prominent cryptocurrency trader Alex Cobb's questions has sparked reactions among crypto enthusiasts.In an October 2 tweet, Cobb asked his X community about the lowest price they bought XRP for.

WHAT IS THE LOWEST PRICE YOU EVER PAID FOR A SINGLE XRP?

- Alex Cobb (@AlexCobb_) October 2, 2023

While several XRP enthusiasts quoted different amounts, some $0.13 and others $0.11 and $0.17, Schwartz's answer attracted the most attention. The Ripple CTO said his father bought over 1 million XRP at about half a penny ($0.005) per token in April 2014.

XRP Community Set Buzzing Following David Schwartz's Response to Cobb's Question

David Schwartz's statement implied that his father spent about $5,000 to buy a million XRP tokens. This sparked a reaction among the XRP community, considering the enormous return on investment such investment would yield. According to historical TradingView data, XRP recorded $0.005 price levels in 2014.

This could be when Schwartz's father bought the crypto asset as the coin's value tanked significantly, even below the $0.005 price level. Considering the asset's current market value at $0.51, his father will make up to 10,100% profit if he still has the coins.

Cobb's tweet sent the X crypto community abuzz, with someone jokingly saying the influencer is impersonating an IRS agent. Further, Cobb shared his most legendary moment when he bought $1,000 worth of XRP at $0.12 per XRP.

What Could be XRP's Market Value in the Future?

XRP gradually gained traction before the U.S. SEC's lawsuit against Ripple Labs. The case has hugely impacted the token's price, as it has been unable to record new all-time highs. It was so bad that XRP could not record new highs even when the biggest bull run occurred in 2021.

This lawsuit lingered for several years, but it's finally reaching its tipping point. In addition, the case has made several headlines in the crypto community as people anticipate its outcome.

More so, Ripple became incredibly popular, evident in the buzz it created when Ripple had a partial victory in July 2023. And it's no surprise that many analysts have been predicting its future price. Dark Defender, a pro-XRP entrepreneur and strategist, also expressed optimism about XRP's growth via the X platform.

Morning US, afternoon EU & fijn avond Asia!#XRP closed the Sep candle with a doji.
I take this positive, as always, and expect a re-test towards $0.66 in a couple of days.

Breaking $0.55 gives tremendous momentum since XRP will be above the weekly Ichimoku Clouds, which will... pic.twitter.com/OQCFoP49mD

- Dark Defender (@DefendDark) October 1, 2023

In his recent tweet, Dark Defender predicted that XRP's breaking $0.55 will push it above the weekly Ichimoku Clouds, empowering it for highs. He noted that Ripple will retest the $0.66 resistance in the next few days.

According to the analyst, once Ripple breaches the $0.6 level, it will target $0.91 and, from there, proceed directly to $1.33. Also, he believes a new all-time high at $5.85 is possible for Ripple once it surpasses $1.8815.

Meanwhile, XRP trades at $0.5093, representing a 2.7% decline in the last 24 hours. However, the asset still holds a 1.7% seven-day price increase and a nearly 1% 30-day price gain.

The post 1 Million XRP Coins Acquired at $0.005 Per XRP in 2014, Ripple CTO Reveals Remarkable XRP Purchase appeared first on The Tech Report.