Ripple-affiliated XRP cryptocurrency has underperformed 90 out of the 100 biggest cryptocurrencies by market capitalization over the past 24 hours. Prominent trader Peter Brandt recently suggested that the price of XRP could end up As noted by analyst Bill Morgan, these figures are highly skewed by the massive rally that the token experienced following Ripple’s partial win against the U.S. Securities and Exchange Commission last July.
XRP surged to a 2023 peak of $0.94 on the Bitstamp exchange following the ruling. However, this renewed excitement surrounding XRP was very short-lived, with the token collapsing 57% since the post-ruling peak.At press time, XRP is trading at $0.49 on the Bitstamp exchange. For comparison, the token peaked at roughly $0.71 in July 2018 despite the fact that cryptocurrencies were in the middle of a bear market.
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