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- Ripple (XRP) outperformed leading assets Bitcoin (BTC) and Ethereum (ETH), despite the majority of the market recording significant daily and hourly losses.
- According to market data, Ripple (XRP) has attained more than 16% in value in the last 7-days, while hourly gains surge past 3% at report time.
Saturday 25th Feb, most altcoins are still in the red zone, after experiencing a pushback in price value, as selling pressure increased in the last week. However, as a select few altcoins attempt to make a recovery, and revisit previous levels, one is showing itself to be the most promising at this time.
Ripple (XRP) has unseated its counterparts to become one of the best-performing altcoins in the market at this time. Currently, the 6th most valued cryptocurrency by market cap, Ripple (XRP) is going head to head with its the USDC (USD Coin), which is its closest counterpart.
The altcoin has notably outperformed other bigger assets like the apex cryptocurrency Bitcoin (BTC), and the second most valued crypto by market cap Ethereum (ETH).
According to recent data, in the last 7 days, Ripple (XRP) has emerged as the highest-gaining asset amongst the top 100 crypto list. Similarly, XRP has also made its mark in the top 50 list, as the highest gainer within the last 24 hours.
Over the last 7 days, the altcoin has secured gains going up to 16%. In the last 24 hours, the asset has also outperformed its counterparts, as 24-hour gains surge past 3%, and prices sit at $0.44. XRP is rightfully being referred to as the anomaly, especially as other assets are still struggling to exit the red zone.
On the other hand, Bitcoin and Ethereum, are recording daily and hourly losses at report time. Bitcoin now trades at $27,452, after losing momentum at its previous high of $28,208. Meanwhile, Ethereum (ETH), which market players expected to claim $2,000 in March, is down 1.55% in the last hours, with prices sitting at $1,745.
XRP’s price is surging at a time when the market is currently experiencing a pushback from the SEC. XRP community members are currently awaiting summary judgment on the ongoing lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC).
Notably, popular Twitter user CryptoBull2020, acknowledged that XRP broke its downtrend on the 22nd of March and that XRP could close March at $1.40, and surge to $4.60 towards the end of April.
“XRP broke its downtrend yesterday. If we see history repeat, price could be $1.40 by end of March, $4.60 by end of April and $27 by end of May.” The tweet read.
#XRP broke its downtrend yesterday. If we see history repeat, price could be $1.40 by end of March, $4.60 by end of April and $27 by end of May. pic.twitter.com/WCO4sVzsA3
— CryptoBull (@CryptoBull2020) March 22, 2023
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The mild bounce back from some altcoins is a breath of fresh air for the crypto market, which had been moving up smoothly, and recording massive gains, despite the fact that the global banking sector is witnessing the downfall of many leading traditional banks in the U.S. and across the entire globe.
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