XRP underperforms while other cryptocurrencies soar in the ongoing bull market. Data shows 62 of the top 100 coins have outperformed XRP in the past year.
Analyst Bill Morgan highlights the discrepancy, but Zach Rector remains optimistic about XRP’s future, citing its strong fundamentals and potential.
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XRP’s Moderate Gains
- Up 45% since October 2023.
- Pales in comparison to competitors:
- Binance Coin (BNB) – 188% surge.
- Solana (SOL) – 665% increase.
- Cardano (ADA), Dogecoin (DOGE), and Avalanche (AVAX) – all over 200% gains.
Frustration Among XRP Enthusiasts:
- XRP is missing out on market-wide gains.
Analyst’s Optimism:
- Zach Rector believes the bull run holds significant potential for XRP.
- Emphasizes XRP’s:
- Strong fundamentals.
- Established use cases in global payments (cross-border remittances).
- Robust community support.
XRP will NOT miss this bullrun! pic.twitter.com/ICbU8XvmaO
— Zach Rector (@ZachRector7) March 13, 2024
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Legal Battle Impact:
- The ongoing lawsuit between Ripple and SEC has impacted XRP’s price.
- Resolution in sight, but outcome uncertain.
- A favourable outcome for Ripple could trigger price appreciation.
Potential for Growth:
- Some analysts predict XRP could reach $10 during this bull cycle.
- The long-term trajectory remains optimistic.
XRP’s recent performance may not be explosive, but analysts like Zach Rector see a compelling future based on fundamentals, real-world use cases, and potential regulatory tailwinds.