XRP Outperforms Bitcoin and Ethereum Gains 41 Despite Market Downturn

XRP has displayed impressive resilience amidst the recent significant price correction in the cryptocurrency market, outperforming Bitcoin, Ethereum, and Solana.
Market data indicates that XRP, typically considered an underperformer, saw a 4.1% increase in the CoinDesk 20 Index over the past week. In contrast, leading cryptocurrencies such as Bitcoin and Ethereum faced notable losses.
XRP Surpasses Bitcoin and Ethereum
The market downturn occurred as prices retraced slowly but steadily over several weeks, causing concern among investors. Yesterday, Bitcoin dropped to $64,066 from the previous week’s range of $70,000. Similarly, Ethereum declined to $3,374, below its previous price of over $3,600.
During this period, Solana (SOL) and Cardano (ADA) experienced a drastic decrease of over 18%. In contrast, XRP remained in positive territory. Despite hitting a low of $0.4647 in the last seven days, it reached a high of $0.5191. While other top cryptocurrencies suffered losses, XRP maintained its position around $0.5.
Interestingly, Uniswap (UNI) dominated the index with a 6.8% increase, pushing the token to $11.98 from around $7 last month. According to market data, only XRP and UNI showed positive returns in the index for the week.
On the other hand, Litecoin (LTC), Chainlink (LINK), ADA, BTC, ETH, and Dogecoin (DOGE) posted single-digit negative returns. The worst performers in the index with double-digit percentage losses include Internet Computer (ICP), Near Protocol, Shiba Inu (SHIB), and Filecoin (FIL).
Improved Market Position for XRP
Additionally, XRP’s enhanced market position is supported by a recent analysis from Fairlead Strategies, an independent research provider.
In their latest review of the 12-week relative rotation graph (RRG) of top altcoins compared to Bitcoin, Fairlead Strategies revealed that XRP has transitioned from the lagging quadrant to the improving quadrant.
This suggests that while XRP still lags behind BTC in strength, its performance is showing positive momentum. Alongside XRP, other assets in the improving quadrant include LINK and ETH. The analysis hints at a potential opportunity for capital to flow into these improving altcoins.
Conversely, DOGE, Solana, and Bitcoin Cash (BCH) are in the weakening quadrant, indicating continued underperformance and a potential move to the lagging quadrant.
Please note that this content is for informational purposes only and should not be considered financial advice. The opinions expressed in this article are personal and do not represent The Crypto Basic’s views. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic is not liable for any financial losses incurred.