XRP's (CRYPTO: XRP) price has surged significantly over the past year, spurred by broader cryptocurrency momentum, legal settlement with the SEC and growing institutional interest.
Needless to say, one XRP can now buy you more than what you could a year ago.
What happened: XRP is priced at around $3 apiece today, marking a whopping 435% increase from the same time last year.
A small Espresso Macchiato at Starbucks costs around $3.54 today. So, 1.18 XRP could buy you a full premium coffee.
Notably, XRP did climb to $3.64 in mid-July before the correction. At the time, you’d have enough money for a long espresso or cappuccino at most coffee places, with some change leftover.
See Also: Ethereum, XRP Soared In July, But This Little-Known Crypto Beat Them All With Triple-Digit Gains
Additionally, 1 XRP could cover a Taco Bell value meal, while 1.66 XRP could get you a $5 McChicken® Meal at McDonald's.
Now let’s go back a year. XRP was priced at $0.52. But before that, we need to account for inflation.
Using the CPI Inflation Calculator, $0.52 in August 2024 is equivalent to about $0.53 today, suggesting an inflation rate of 2.8%.
So, for $0.53, you could have bought a few minor grocery items, including a pound of bananas and a couple of eggs (a dozen eggs cost $2.715). One pound of chicken would have required you to shell out at least 4 XRP.
In summary, $3 today can buy a small fast-food item, a coffee, or a basic meal, while $0.52 a year ago could afford a single piece of fruit
Price Action: At the time of writing, ETH was trading at $3,766.85, down 2.06% in the last 24 hours, according to data from Benzinga Pro.
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