Massive Profit for One Ripple XRP Trader’s Investment: $1.68 Million

A cryptocurrency trader named Cameron Fous shared on X how he made 8400% profit off of his XRP purchase.

In 2019, Fous bought Ripple’s XRP at a price of $0.20 per coin. He invested $20,000 into the cryptocurrency coin and let it grow. Fous watched his investment balloon to $100,000. The $0.20 coin had increased to $1.00 in a relatively short period.

After 420 days, the investment grew to $1.7 million. Fous has made a profit of $1.68 million in less than two years.

Cameron Fous had been trading stocks and forex for two decades before turning his investment expertise to cryptocurrency. He had retired from trading in 2018 but went back in on crypto on the advice of a friend. Now, he’s a millionaire, according to his X post.

Is Ripple’s XRP Still a Good Investment?

Obviously, XRP paid off well for Fous, but as this news story brings more public interest to the coin, traders will be wondering if they should try to invest in XRP at this point or if that is a bad idea by now.

The XRP token is currently at $0.601 (XRP/USD), down 4.33% from the previous day. While XRP was mildly bullish over the last few days, it lost all of its gains from the last week when it dropped Wednesday morning.

That is only the short-term view. How does this coin fare in the long term? Over the course of the last month, XRP has gained 19%. That has brought XRP from a price of $0.502.

The all-time high for XRP was $3.84 back in January of 2018. XRP is nowhere near close to approaching that mark again, but it is trending upward. Because the coin managed to go so high in the past, it is possible it will reach there again. Estimates put XRP 2024 potential around $1 or a little higher.

Thanks to the positive influence of the booming Bitcoin (BTC) token, XRP and other cryptos are doing well and could continue to move upward over the next few weeks. XRP still stands as a good investment, but it may never see that all-time high record again.