Data from a notable market tracking portal has shown the extent to which XRP underperforms among the pool of the top 100 most valuable crypto projects.
Concerns about XRP’s discouraging performance have been a recurring theme in the community, wherein notable figures routinely share new perspectives to the discourse.
Recently, pro-crypto attorney Bill Morgan called to attention data from market tracker CoinCodex on XRP’s yearly trajectory compared to its rivals. The data pertained to CoinCodex’s risk analysis concerning an asset.
XRP Among Top Worst-performing Tokens
Per the information, over the past year, XRP lagged behind 61% of the assets on the top 100 list. This suggests that XRP wallows among the 39 worst-performing tokens in the top 100.
“Not great,” Morgan remarked to the disclosure, emphasizing that “62 of the top 100 cryptos are outperforming XRP over the last year.”
Not great. 62 of the top 100 cryptos are outperforming XRP over the last year according to CoinCodex. Is this just a function of XRP moving last? pic.twitter.com/JWcIMfArwk
— bill morgan (@Belisarius2020) March 7, 2024
Furthermore, CoinCodex stressed that the two market bigwigs, Bitcoin and Ethereum, have done better than XRP since 2023. It pointed out that XRP remains 84% away from its six-year-old all-time high, given its market value at around $ 0.62.
Meanwhile, Bitcoin has shattered its 2021 peak, reaching a new record above $69,000 this week. Conversely, Ethereum is barely 22% from its previous all-time high.
Another negative risk factor CoinCodex underscored for XRP is its yearly inflation rate of 8%. While some members of the XRP community attribute its underperformance to inflationary pressures, data suggests a different perspective compared to other assets.
For instance, CoinCodex highlighted that Solana (SOL) suffers a more significant yearly inflation of 20.16%. However, SOL has grown by 579.74% from $14.48 to over $140 since last year. Through the same window, XRP has registered only a 69% gain from a low of $0.3606.
Nonetheless, CoinCodex also notes positive aspects of XRP. It mentioned that the asset has seen 19 green days in the past month, indicating a success rate of 63%. Additionally, CoinCodex disclosed that XRP boasts high liquidity based on its market cap.
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