XRP Army Questions 3-Month Price Slump, But Remains Optimistic

The XRP neighborhood has expressed concern in regards to the asset’s current value efficiency however stays hopeful of a restoration within the coming months.

For the reason that ultimate quarter of the previous 12 months, the worth of XRP has underperformed when in comparison with other cryptocurrencies throughout the high ten. On the similar time, the asset has misplaced two locations on the highest ten listing, having been overtaken by Solana and, extra just lately, USDC.

These developments have drawn the eye of even probably the most hard-minded XRP buyers. In a current submit on X, a number of buyers expressed their concern, albeit whereas sustaining optimism {that a} turnaround is on the horizon.

Outstanding XRP influencer Invoice Morgan initiated the feedback with graphics displaying the previous three months of value motion among the many high cryptocurrencies. Notably, XRP, which ranked sixth on the time, is the one one seeing robust unfavorable value motion.

The asset has misplaced 18% of its worth previously three months regardless of all different cryptocurrencies gaining in double digits. Even main competitor Cardano (ADA) gained 50% over the identical timeline, with Bitcoin seeing the bottom acquire at 20%.

The three month snapshot of #XRP and different high cash. It follows the market apparently. I do know snapshots are a partial image and will be deceptive relying on the timeframe but it surely does name for asking what’s the rationalization? Why is XRP the odd one out amongst these high cash.… pic.twitter.com/6P9cvKwil2

— invoice morgan (@Belisarius2020) February 1, 2024

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Invoice Morgan questioned why XRP is the “odd one” among the many high cash, and whether or not the worth development means nothing.

Different respondents within the thread famous that they felt the same way [about XRP price action]. Some claimed that XRP’s value is being manipulated by banks and different giant buyers searching for to shake out retail buyers earlier than a robust value motion.

XRP Traditionally Lags the Crypto Market 

Bringing calm to the dialog, distinguished XRP YouTuber Moon Lambo argued that the development means nothing. He famous that XRP’s value has traditionally lagged when in comparison with different crypto property and that the present value motion mirrored a similar one in 2017.

As many have identified, the worth of XRP ultimately surged even after lagging in opposition to different property for many of the 12 months. In the meantime, Moon Lambo added that buyers ought to solely be apprehensive if Bitcoin makes a brand new all-time excessive and XRP doesn’t replicate the worth development. 

In the meantime, XRP’s value just lately hit a brand new low of round $0.49. Holders continue to remain optimistic of a turnaround, hoping the asset lives as much as the billing and has a interval the place it outperforms different high cryptocurrencies or at the least matches them.