A recent report from Santiment, a behavior analytics platform, has revealed that despite its struggles with pricing, XRP remains one of the top 5 mainstream assets with the highest profitability. Concerns have been raised about XRP’s inability to surpass the $0.5 mark, leading to speculation about stablecoin alternatives. Since dropping below $0.6 on April 12, XRP has struggled to regain its footing above this crucial price point for over two months, despite occasional positive movements in the overall market.
Despite this, XRP has managed to maintain support at $0.50, showcasing its resilience. However, investors remain wary due to the lackluster price performance. Santiment’s data confirms that a majority of XRP’s circulating supply is currently trading at a profit.
Santiment’s Supply Profitability Metric evaluates the current value of a token compared to its initial value when it first appeared on the blockchain. According to this metric, Bitcoin (BTC) leads the pack with 98.3% of its circulating supply in profit, followed by Ethereum (ETH) at 95.1%. Chainlink and Dogecoin also boast high profitability rates, with XRP ranking fifth with a profitability ratio of 78.8%.
XRP’s high profitability ratio can be attributed to the fact that much of its circulating supply was released when its price was significantly lower. Additionally, the consistent low value of XRP has contributed to its profitability. Ripple’s monthly releases of XRP from escrow, totaling 2.4 billion tokens per year, further influence the supply profitability.
Despite XRP’s decline in price this year, the tokens released during low price points have proven to be profitable at the current price. It is important to note that this information is for informational purposes only and should not be considered financial advice. Readers are advised to conduct thorough research before making any investment decisions.