{"id":600668,"date":"2024-04-01T06:10:11","date_gmt":"2024-04-01T06:10:11","guid":{"rendered":"https:\/\/uniquehot.com\/?p=600668"},"modified":"2024-04-01T06:10:52","modified_gmt":"2024-04-01T06:10:52","slug":"riding-the-ripple-xrp-stellar-1-year-performance-leaves-banks-in-the-dust","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/riding-the-ripple-xrp-stellar-1-year-performance-leaves-banks-in-the-dust\/","title":{"rendered":"Riding The Ripple: XRP Stellar 1-Year Performance Leaves Banks In The Dust"},"content":{"rendered":"
XRP holders are facing mixed signals. While the digital asset boasts nearly 20% in gains over the past year, significantly outperforming traditional savings accounts, its recent performance pales in comparison to other cryptocurrencies.<\/p>\n
After a substantial decline, the altcoin’s price has now entered a phase of sideways consolidation, making market players unsure of its future course. It appears like the cryptocurrency will likely stay stuck in a narrow range until there is a breakout in either way.<\/p>\n
Despite the seemingly negative vibe, a recent report highlighted the coin’s resilience. Specifically, it underscored its advantage over stagnant savings accounts.<\/p>\n
XRP hit a low of $0.42 in March 2023 and surged to $0.93 in July, fueled by optimism surrounding the Ripple vs. SEC lawsuit. The coin then saw a rise of 1.30% on Sunday. After losing 1.35% on Saturday, the altcoin gained 0.41% at the end of the week to close at $0.6299. Today, it sits at $0.61, reflecting a 20% year-over-year increase.<\/p>\n
This dwarfs the returns offered by most savings accounts. A Business Insider report<\/a> pegs the average Annual Percentage Yield (APY) for US savings accounts between 0.01% and 0.25%. Even high-yield online banks rarely surpass 5.30% APY.<\/p>\n XRP is up over 6% within a single year, it has outperformed every savings account of every bank in the world and yet you people are still crying about it. pic.twitter.com\/GGxVPJfudU<\/a><\/p>\n \u2014 Mr. Huber\ud83d\udd25\ud83e\udd85\ud83d\udd25 (@Leerzeit) March 29, 2024<\/a><\/p><\/blockquote>\n “Mr. Huber,” a prominent crypto community investigator, emphasizes this point. To paraphrase his views, he said while XRP might not be setting the crypto world on fire right now, it’s definitely a better option than letting your money languish in a savings account.<\/p>\n However, discontent simmers within the community. Over the past three months, XRP has seen a meager 1% growth, while rivals like Bitcoin and Ethereum have skyrocketed by over 50%. This lackluster performance compared to its peers is causing frustration among holders.<\/p>\n <\/p>\n\n
XRP market cap currently at $33.6 billion. Chart: TradingView.com<\/a><\/pre>\n