XRP Outperforms Bitcoin and Ethereum Gains 41 Amid Market Downturn

XRP has demonstrated impressive resilience in the recent significant price correction within the cryptocurrency market, outperforming Bitcoin, Ethereum, and Solana.
Market data reveals that XRP, often considered an underperformer, saw a 4.1% increase in the CoinDesk 20 Index over the past week. Meanwhile, leading cryptocurrencies like Bitcoin and Ethereum faced notable losses.
XRP Surpasses Bitcoin and Ethereum
The market downturn unfolded as prices retraced slowly but steadily over several weeks, sparking concern among investors. Yesterday, Bitcoin dropped to $64,066 from the previous week’s range of around $70,000. Similarly, Ethereum declined to $3,374, falling below its price of over $3,600 from the previous week.
During this period, Solana (SOL) and Cardano (ADA) experienced an over 18% decline. In contrast, XRP maintained a positive performance. Despite hitting a low of $0.4647 in the past seven days, XRP reached a high of $0.5191. The asset held its ground around $0.5 while other top cryptocurrencies suffered significant losses.
Remarkably, Uniswap (UNI) dominated the index last week with a 6.8% surge, pushing the token to $11.98 from around $7 the previous month. According to market data, only XRP and UNI showed positive returns in the index for the week.
Others like Litecoin (LTC), Chainlink (LINK), ADA, BTC, ETH, and Dogecoin (DOGE) posted single-digit negative returns. Meanwhile, Internet Computer (ICP), Near Protocol, Shiba Inu (SHIB), and Filecoin (FIL) were the worst performers in the index, with double-digit percentage losses.
Improved Market Position for XRP
Additionally, XRP’s enhanced market position is supported by a recent analysis from Fairlead Strategies, an independent research provider.
In its latest review of the 12-week relative rotation graph (RRG) of top altcoins compared to Bitcoin, Fairlead Strategies indicated that XRP has transitioned from the lagging quadrant to the improving quadrant.
This suggests that while XRP still lags behind BTC in strength, its performance is gaining momentum. LINK and ETH are other assets in the improving quadrant alongside XRP. The analysis hints at a potential opportunity for capital to flow into these improving altcoins.
On the contrary, DOGE, Solana, and Bitcoin Cash (BCH) are in the weakening quadrant, signaling ongoing underperformance and a potential shift to the lagging quadrant.
Disclaimer: This content serves informational purposes and should not be construed as financial advice. The opinions expressed in this article are personal and do not reflect the views of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic holds no responsibility for any financial losses incurred.