Ripple CTO States His Father Purchased XRP at Fraction of a Penny in 2014

• Ripple CTO David Schwartz’s father bought over a million XRP in April 2014 for roughly half a cent per token.
• With XRP presently buying and selling round $0.51, these tokens at the moment are value over $500,000.
• Schwartz’s father’s scored a simple 10,000% along with his funding.

Cryptocurrency dealer Alex Cobb lately requested his group concerning the lowest value they’ve paid for Ripple (XRP). Whereas many shared purchases round $0.07 to $0.12, Ripple CTO David Schwartz revealed his father’s notably well-timed 2014 funding.

In a remark, Schwartz shared that his father had purchased over a million XRP in April 2014 via the Justcoin trade at roughly half a cent per token. This totaled round $5,000 on the time.

With XRP presently buying and selling round $0.51, these tokens at the moment are value over $500,000, representing positive aspects of almost 10,000% in beneath a decade.

Ripple has had a exceptional journey since its inception. Nonetheless, the prime progress of the corporate was hindered by the lawsuit filed by the U.S. Securities and Trade Fee (SEC) again in 2020. The extended lawsuit had a damaging influence on the worth of XRP in addition to affected its progress drastically.

Following the choose’s ruling that XRP didn’t violate federal securities legislation in July, the worth witnessed a notable surge. Nonetheless, it was shortlived because the bearish market sentiment bought the very best of the positive aspects.

In keeping with the most recent knowledge from CoinMarketCap, XRP is down by 2.6% within the final 24 hours, alongside the entire cryptocurrency market, which is down at this time. The token noticed a single-digit surge in worth as much as $0.52 when the worth of BTC breached $28,000 yesterday.

Nonetheless, XRP nonetheless has an extended technique to go to succeed in its all-time excessive of $3.84. At press time, XRP was down by 86% from its all-time excessive in 2018.

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