Despite XRP underperforming the broader crypto market, its trajectory over the past year indicates that it remains a more favorable investment option compared to leaving money in a savings account.
Over the past day, XRP registered a 1.36% loss. However, this negative growth is not unique to XRP, as many other rivals witnessed a similar percentage decline. Yet, zooming out to a three-month timeframe reveals that XRP has remained stagnant, showing barely 1% growth.
Conversely, Bitcoin, Ethereum, BNB, Solana, and Dogecoin have all surged by over 50% within the last 90 days. This lackluster performance form XRP compared to its counterparts continues to breed discontent among its holders.
Meanwhile, some prominent figures in the XRP community have attempted to appease the growing pessimism. For instance, community investigator “Mr. Huber” recently took to X to disclose that XRP has outperformed the offerings of all savings accounts worldwide when considering its performance on a one-year scale.
XRP is up over 6% within a single year, it has outperformed every savings account of every bank in the world and yet you people are still crying about it. pic.twitter.com/GGxVPJfudU
— Mr. Huber🔥🦅🔥 (@Leerzeit) March 29, 2024
XRP Beats Bank Savings Account Offering
Significantly, within the past 365 days, XRP hit a low of $0.4218 before surging to $0.93 in July. This price top was due to a favorable outcome in the Ripple vs. SEC lawsuit.
Meanwhile, XRP traded at $0.5159 precisely on March 29, 2023, precisely a year ago. With its current value of $0.615, the asset has appreciated by 19% over the past year. This percentage gain is more than three times the highest returns offered by savings accounts.
According to a recent report by Business Insider, the average Annual Percentage Yield (APY) for traditional savings accounts in the U.S. ranges from 0.01% to 0.25%.
However, online banks like UFB Direct, CIT Bank, and Capital One 360 offer higher APYs, up to 5.35%. Yet, this figure is dwarfed by the gains from holding XRP over the past year.
Ultimately, XRP community investigator Mr. Huber brought this analogy to establish that while XRP may currently be underperforming the rest of the crypto market, it constitutes a better holding than merely keeping cash in savings accounts.
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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