Future

Solana

Dogecoin

<p>As the market experiences a resurgence, Ripple’s crypto unfortunately stands out due to significant stagnation. While the soaring prices of Bitcoin and other altcoins stimulate traders’ enthusiasm, XRP seems unable to keep up with the trend. The crypto, once among the most promising, is showing the worst performance in the top 10 of the market.</p> 
<h2 id="h-xrp-lagging-the-numbers-that-worry">XRP Lagging : the numbers that worry</h2> 
<p>In a market propelled by a bullish momentum, the <a href="https://www.cointribune.com/quest-ce-que-ripple-xrp/" target="_blank" rel="noreferrer noopener">XRP</a> shows mixed results. Over the past few days, the crypto has recorded only a marginal increase of 0.32 % in 24 hours and 0.33 % over the week. In fact, for comparison, Bitcoin surged nearly 7 % during the same period, while Solana jumped by 7.5 %. This poor performance makes XRP the least performing asset among the top ten cryptos. Such stagnation occurs at a time when other cryptos are capturing a massive flow of capital, pushing XRP to the background.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1"> 
 </div> 
</div> 
<p>Moreover, <a href="https://u.today/xrp-shows-worst-performance-in-top-10-of-crypto-market" target="_blank" rel="noreferrer noopener">this underperformance of XRP</a> is directly linked to the growing dominance of Bitcoin, which currently claims nearly 60 % of the total market capitalization of cryptos. Investors, given the potential for substantial gains with Bitcoin, are massively redirecting their funds towards the king of cryptos, leaving XRP and other altcoins sidelined. This Bitcoin dominance siphons off liquidity from other market assets. This disinterest is reflected in XRP’s transaction volume, which is significantly lower than that of other top 10 cryptos.</p> 
<h2 id="an-uncertain-future-if-the-trend-continues">An Uncertain Future if the Trend Continues</h2> 
<p>If Bitcoin’s dominance persists, XRP could continue to suffer from a lack of interest from whales and institutional investors. Investors emphasize that the critical level of $0.50 is at stake. If XRP fails to regain traction and attract new trading volumes, this threshold could break, potentially leading to a new wave of selling. Thus, XRP’s inability to capture the attention of major wallets is an alarming sign. If the crypto does not find a catalyst quickly, it risks losing its position in the top 10.</p> 
<p>One of the reasons for this weakness could be the redistribution of capital towards other more attractive altcoins like Dogecoin and Solana, which continue to attract new investors. It should also be noted that the recent successes of these cryptos stand in stark contrast to XRP’s lack of dynamism, which struggles to capture attention. If the market continues to favor these other assets, XRP could find itself even more marginalized.</p> 
<p>In the long term, the continued erosion of transaction volumes on XRP could have significant repercussions on the asset’s liquidity and stability. Investors, particularly institutional ones, could further abandon this crypto, which would further increase downward pressure on its price. However, a turnaround is not out of the question. If major announcements from Ripple or a resurgence of interest from investors were to occur, XRP could regain ground. However, in the absence of such events, its future in the top 10 seems compromised.</p> 
<p>Here are the thought of Ryan Lee, Chief Analyst at Bitget Research on the matter:</p> 
<p>“<em>Based on technical analysis and market sentiment, XRP’s movement in November is likely to fluctuate within a price range of $0.4 to $0.85. This projection is influenced by several key factors.</em></p> 
<p><em>One significant factor is the potential impact of the upcoming U.S. election. Recently, Ripple co-founder and executive chairman Chris Larsen donated $10 million worth of XRP to support Vice President Kamala Harris’s presidential campaign. Although Harris currently has a low probability of winning, a shift in her favor could result in a notable rise in XRP’s value.</em></p> 
<p><em>Market sentiment is another influential factor, with high levels of bullish sentiment currently driving the market. Major assets, particularly Bitcoin, are leading this upward trend. As the wealth effect from Bitcoin permeates other sectors, XRP may experience an increase as it follows the broader market rally.</em>“</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="2"> 
 </div> 
</div> 
<div class="affiliate-button"> <a class="affiliate-button__link" href="https://www.bitget.com/referral/register?from=referral&amp;clacCode=Y6GU6UFX" target="_blank" rel="noreferrer noopener">Your 1st cryptos with Bitget</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noreferrer noopener">This link uses an affiliate program.</a> 
</div> 
<p><em>In summary, XRP finds itself at a critical crossroads. If current trends continue, the crypto could see its position erode in the face of increasingly fierce competition. However, good news in <a href="https://www.cointribune.com/en/ripple-vs-sec-the-xrp-battle-continues/" target="_blank" rel="noreferrer noopener">the legal saga between Ripple and the SEC</a> could change the game. The coming weeks will be decisive in determining whether XRP can reverse the trend or continue its gradual decline.</em></p>

Ripple’s XRP stagnates : What’s behind the weak performance?

Table of Contents

Cointribune EN

Other articles published on Oct 30, 2024

Can New Solana ETF Applications Succeed?

Weekly Article Recap: 10/21-10/25

NFT Marketplace Magic Eden Announces Support For The Upcoming Abstract L2 Network

SEC Challenges Court's XRP Ruling in Formal Appeal

Kroma Guardian House (KGH) Staking is now LIVE!

Billion-Dollar Payouts: Are U.S. Regulators Really Taming the Crypto Market?

Join our free newsletter for daily crypto updates!