XRP Price Forecast Amid Top 5 Profitability Ranking – What Lies Ahead for XRP?
Despite the consistent underperformance of XRP in comparison to Bitcoin, Ethereum, and other major cryptocurrencies, recent data from crypto analytics platform Santiment has revealed that XRP remains one of the top cryptos in terms of profitability, ranking in the top 5.
According to the Santiment report, 78.8% of the XRP tokens currently in circulation are in profit, indicating that the XRP price is currently higher than when these tokens were initially issued on the blockchain. While this is a respectable figure, it still falls significantly behind Bitcoin’s 98.3% and Ethereum’s 95.1%.
The ongoing underperformance of the XRP price compared to other major cryptos over the past year and a half can explain this. Despite being up by 73% from its 2022 bear market lows, XRP continues to trade at 87% below its all-time highs reached in early 2018, as per CoinMarketCap.
In contrast, Bitcoin has surged to the $69,000 range, marking a 4.5x increase from its 2022 lows and reaching new record highs this year. Ethereum has also experienced a 4x increase from its 2024 lows and is now only 25% below its 2021 record highs.
XRP Price Forecast – What Lies Ahead for XRP?
The long-term technical analysis of the XRP price remains lackluster, indicating that a near-term catch-up to Bitcoin and Ethereum is unlikely. XRP broke below a long-term uptrend in April and has been trading bearishly since then.
If Bitcoin sees a surge to new record highs above $74,000 and Ethereum returns to its all-time highs, XRP might see some gains. However, chart analysis suggests that a retest of support-turned-resistance around $0.40 in the coming weeks is likely.
Fundamentally, the outlook for XRP does not appear promising at the moment. The current crypto bull market favors coins with strong adoption narratives, which XRP lacks compared to coins like Bitcoin and Ethereum.
For those looking for alternative investment options, shifting holdings from XRP to BTC, ETH, or SOL might be a safer bet for stable gains in the upcoming year. However, traders seeking higher returns could explore the meme coin market, where gains of 50-100x are possible.
One meme coin that analysts believe has potential is PlayDoge (PLAY), which offers play-to-earn (P2E) utility and powers a mobile-based game. With a successful presale raising over $3.0 million and a modest market cap of around $50 million, PLAY could be a promising meme coin play in the current cycle.
It’s essential to remember that investing in crypto is highly risky, and this article is for informational purposes only and should not be considered investment advice. Investors could potentially lose all of their capital.