The XRP community has expressed concern about the asset’s recent price performance but remains hopeful of a recovery in the coming months.
Since the final quarter of the past year, the price of XRP has underperformed when compared to other cryptocurrencies within the top ten. At the same time, the asset has lost two places on the top ten list, having been overtaken by Solana and, more recently, USDC.
These developments have drawn the attention of even the most hard-minded XRP investors. In a recent post on X, several investors expressed their concern, albeit while maintaining optimism that a turnaround is on the horizon.
Prominent XRP influencer Bill Morgan initiated the comments with graphics showing the past three months of price action among the top cryptocurrencies. Notably, XRP, which ranked sixth at the time, is the only one seeing strong negative price action.
The asset has lost 18% of its value in the past three months despite all other cryptocurrencies gaining in double digits. Even major competitor Cardano (ADA) gained 50% over the same timeline, with Bitcoin seeing the lowest gain at 20%.
The 3 month snapshot of #XRP and other top coins. It follows the market apparently. I know snapshots are a partial picture and can be misleading depending on the timeframe but it does call for asking what is the explanation? Why is XRP the odd one out amongst these top coins.… pic.twitter.com/6P9cvKwil2
— bill morgan (@Belisarius2020) February 1, 2024
Bill Morgan questioned why XRP is the “odd one” among the top coins, and whether the price trend means nothing.
Other respondents in the thread noted that they felt the same way [about XRP price action]. Some claimed that XRP’s price is being manipulated by banks and other large investors seeking to shake out retail investors before a strong price action.
XRP Historically Lags the Crypto Market
Bringing calm to the conversation, prominent XRP YouTuber Moon Lambo argued that the trend means nothing. He noted that XRP’s price has historically lagged when compared to other crypto assets and that the current price action mirrored a similar one in 2017.
As many have pointed out, the price of XRP eventually surged even after lagging against other assets for most of the year. Meanwhile, Moon Lambo added that investors should only be worried if Bitcoin makes a new all-time high and XRP does not replicate the price growth.
Meanwhile, XRP’s price recently hit a new low of around $0.49. Holders continue to remain optimistic of a turnaround, hoping the asset lives up to the billing and has a period where it outperforms other top cryptocurrencies or at least matches them.
