XRP's Price Plunge Leaves Millionaire-Making Dreams in Doubt

The price of XRP has plummeted 63% over the past 12 months, making it difficult for investors to see a massive comeback and potential millionaire-making returns.

XRP's biggest catalysts have played out, including the introduction of cryptocurrency exchange-traded funds (ETFs), specifically XRP ETFs. The anticipation of an XRP ETF helped drive its price higher for a while, but now that the ETFs are available, the price buildup that occurred before launch has played out.

JPMorgan originally estimated between $4 billion and $8 billion in XRP ETF inflows in the first year, but actual inflows have been far below this estimate at just over $1.4 billion.

Additionally, some of XRP's gains over the past couple of years were likely tied to the U.S. government's more open stance toward cryptocurrencies, but any initial hope that XRP would gain more acceptance in the U.S. government has faded.