ripple (XRP) Behind 64% of Top 100 Cryptocurrencies: Is It Coming Back?
TL;DR
- XRP lags other leading cryptocurrencies in terms of performance and is trading significantly below its 2018 peak despite Ripple‘s recent partial legal victories.
- optimism remains among analysts regarding the future growth of XRP, with major bullish forecasts influenced by regulatory developments.
Ripple’s XRP has experienced volatility over the past few days, hovering between $0.57 and $0.66. Despite rising nearly 20% on a monthly scale, the asset has not performed as well as other leading cryptocurrencies, including Bitcoin (BTC) and Ether (ETH).
Coincodex, an aggregate platform that tracks the prices of many digital assets, clarified 64% of the tokens in the top 100 list were found to outperform XRP in terms of annual increases. Currently, the coin is trading at around $0.62, down 84% from its all-time high reached in 2018 (according to CoinGecko data).
XRP’s statistics weren’t that bad in July last year. rose It rose to $0.85. The spike was likely triggered by Ripple’s first major (but partial) court victory against the United States Securities and Exchange Commission (SEC).
Company trustworthy Two additional victories followed in the following months, followed by a brief revival in XRP’s valuation, although not as significant as that observed in July.
XRP Price, Source: CoinGecko
Is There a Rally on the Horizon?
Many analysts, such as Dark Defender and EGRAG CRYPTO, are optimistic that XRP will catch up with its rivals and witness a significant bull run in the coming months.
Old requested The asset’s price is on the verge of a massive increase, which he describes as a “6-year awakening.” EGRAG CRYPTO summarized A long-term prediction is that XRP could skyrocket to $10 by 2030.
Some important factors that could play a role in a possible price increase this year include regulatory developments (e.g. Ripple v. SEC case), major partnerships, more adoptions, and more.
For those who want to observe the seven key signs that XRP is ready to explode in 2024, please check out our exclusive video below:
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