A recent report from Santiment, a behavior analytics platform, has revealed that XRP is one of the top 5 mainstream assets with the highest profitability, despite facing challenges with its price. Concerns have been raised about XRP’s inability to surpass the $0.5 mark, leading to speculation about it becoming a stablecoin. Since dropping below $0.6 on April 12, XRP has struggled to regain its previous price levels for over two months, despite occasional increases in the broader market.
Although XRP has managed to maintain support at $0.50, demonstrating its resilience, investors remain wary due to the lack of significant price movements. Interestingly, Santiment’s recent findings show that a majority of XRP’s circulating supply is currently trading at a profit.
Santiment has introduced a metric called “Supply Profitability,” which compares the current value of a token to its initial value when it first appeared on the blockchain. According to this metric, Bitcoin (BTC) has the highest percentage of circulating supply in profit, followed by Ethereum (ETH). Chainlink and Dogecoin also rank high in terms of profitability, with XRP coming in fifth despite experiencing a 15% drop in price this year.
XRP’s high profitability ratio can be attributed to the release of a significant portion of its circulating supply when the price was low. Additionally, Ripple’s monthly token releases from escrow have contributed to maintaining the supply profitability. Despite facing challenges, XRP tokens released at low prices have become profitable with the current market value.
It is essential to conduct thorough research before making any investment decisions based on this information. The opinions expressed in this article are solely those of the author and do not necessarily reflect the views of The Crypto Basic. Financial losses incurred by readers are not the responsibility of The Crypto Basic.