Ripple CTO David Schwartz reveals details of XRP’s 1500% growth

Ripple’s CTO David Schwartz said that over the past 7 years, the XRP token has grown by 1500%. This statement was made in response to a message from a user who claimed to have suffered losses from seven years of holding XRP.

Schwartz noted that exactly seven years ago, XRP was trading at around $ 0.033. If an investor had kept their assets in XRP during this period, they would have witnessed a 1500% increase, and the annual percentage yield (APY) would have been 47%, the developer emphasized.

«Seven years ago, it was April 19, 2017. XRP was worth $ 0.033 in 2017. That’s a 1500% increase, which is equivalent to an annualized return of 47% ,» Schwartz said.

The user’s claim to have bought XRP over the past seven years turned out to be partially false, as he later clarified that he bought XRP in January 2018, right after it fell from an all-time high of $ 3.84.

The seventh largest cryptocurrency asset by market capitalization, XRP has been underperforming in recent years, as it is one of the few cryptocurrencies that did not reach all-time highs during the previous and current bull cycles.

The SEC lawsuit filed against Ripple in December 2020, combined with the bear market of 2022, has reduced the value of XRP. Since its peak in January 2018, XRP has lost more than three quarters of its market value. At the current price, XRP has fallen 86.51% from its all-time high of $ 3.84 set on January 4, 2018. Despite regulatory controls and market volatility, XRP remains among the 10 largest cryptocurrencies by market capitalization.

It is worth noting that historically, the XRP price has shown a tendency to outperform bitcoin in the periods preceding the events related to halving. The XRP/BTC pair gained more than 100% after the third BTC halving in May 2020. Similarly, the pair jumped 85% after the second Bitcoin halving in July 2016. These patterns increase the likelihood that XRP will outperform bitcoin after a halving.