Published
1 year ago on
May 25, 2022
Any investor should consider cryptocurrency as part of their portfolio. The technology being created with web 3.0 looks set to revolutionise the way we live our daily lives. With crypto still very much in its earliest days and only around 4% of the entire world's population invested, now could go down in history as one of the greatest ever times to start investing.
Many cryptocurrencies saw exponential growth throughout 2020 and 2021. If you had invested $1000 into tokens such as Solana (SOL) or Shiba Inu (SHIB) you would be living in your mansion as a multi-millionaire right now.
Three cryptocurrencies that have the potential to see extraordinary results over the next few months and years are XRP (XRP), Chiliz (CHZ) and Mehracki (MKI). Let’s take a look at what makes these tokens stand out from the rest and why a $1000 investment in any of them could make you a millionaire.
Will XRP Be Bigger Than Bitcoin (BTC)?
XRP is the native coin of Ripple Labs and all of its products. XRP is utilised for payment settlement, asset exchange, and remittance systems that operate like SWIFT, a service used by a network of banks and financial intermediaries for international money and security transfers.
Since December 2020, Ripple Labs have been embodied in a lawsuit with the Securities and Exchanges Commission (SEC) over the reported sale of unregistered XRP tokens in the company's earliest days. The lawsuit is predicted to come to an end towards the end of 2022 with many believing Ripple Labs will be victorious.
The end of the 2018 bull run saw XRP with the same market cap as Ethereum (ETH). If that were the case today, the price of XRP would currently be around the $6 range. This means that a $1000 investment right now should in theory be worth $12,000.
With the financial system slowly shifting towards decentralisation, the technology provided by Ripple Labs could result in XRP becoming one of the powerhouses of the cryptocurrency world. Within the next couple of years, we could see every major bank and financial institution using XRP to facilitate cross border payments.
