price has been hit hard over the last 30 days, with its value dropping by 11.71%. Needless to say, other altcoins have fallen on the charts too. However, XRP’s case seems different, especially considering how it has been one of the worst-performing cryptocurrencies this year.
It can be argued otherwise. This, because a stablecoin on Ripple’s network could make XRP less competitive with other altcoins. Another metric worth looking at is Weighted Sentiment. According to AMBCrypto’s on-chain analysis, XRP’s Weighted Sentiment climbed, and it hit its highest point since 26 January.This hike suggested that market participants might be bullish on the price action. However, it is also important to look at what happened to the price in January.at that time, XRP’s price was $0.54. Days later, the value of the token tanked to $0.49. If history repeats itself, then XRP might climb towards $0.59.