XRP price against Bitcoin (BTC) has seen a massive decline over the past decade, collapsing by as much as 55% since December 2013 amid sustained underperformance.
Bitcoin began 2013 with a modest $13 price. However, the asset gained massively within the year, soaring to an impressive $1,120 in December 2013. XRP also began 2013 with a modest price, but eventually increased to $0.0383 in December 2013.
With XRP trading at $0.0383 and Bitcoin changing hands at $1,120 exactly 10 years ago, the XRP/BTC pair traded at 0.00003419 as of December 2013. Over the years, the pair has recorded upswings and declines, but current data suggests BTC has largely outperformed XRP since then.
At the start of this year, Bitcoin’s dominance was already evident, with XRP trading for $0.3385 while BTC saw a value of $16,530. These values indicated that the XRP/BTC pair started the year with a value of 0.00002048, representing a massive 40% drop from the December 2013 figure.
XRP Down 55% Against BTC Since December 2013
Taking their appreciation rates into account, XRP had only increased 783% from December 2013 to January 2023. On the other hand, Bitcoin had skyrocketed by 1,375% within the same timeframe. However, both assets were equally regarded as largely undervalued at their January prices.
Since January, Bitcoin has increased by 152%, while the XRP price has only seen an 89% rise. XRP’s year-to-date performance is impressive when highlighted in an individual light. Nonetheless, it falls short compared to Bitcoin’s performance.Â
Compounding these price performances since December 2013, the XRP/BTC pair has decreased from 0.00003419 10 years ago to a current value of 0.00001529. This marks a 55% drop in the pair, indicating that Bitcoin has outperformed XRP by 55% in the last 10 years.
Possible Reason
Analyst Sommi called attention to this decline, but data from his charts highlighted a 70% drop because he analyzed performances from September 2013. He alleged that the decline was because Ripple had been dumping their excess BTC returns on investors.
However, several market watchers have attributed the drop to an XRP price suppression. These analysts believe the price of XRP has suffered tremendously from the SEC’s lawsuit which began in December 2020. Note that XRP outperformed BTC as of 2018 but lagged during the 2021 bull run.
Despite recently gaining regulatory clarity, XRP’s resurgence has been slow. Right before the pivotal July 13 ruling, XRP changed hands at $0.4646. At a current price of $0.6376, XRP is up 37% since the ruling. XRP has failed to retain the $0.65, $0.70 and $0.75 significant price thresholds.
Nonetheless, BTC is changing hands at $41,700, having conquered multiple significant resistance points since July 13, including $35,000, $38,000 and most recently, $41,000. Despite the underperformance, some analysts believe XRP would register a firm resurgence before long.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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