What’s Next for XRP Prices Post Top 5 Profitability Achievement?

What’s Next for XRP Prices Post Top 5 Profitability Achievement?

Despite the continued underperformance of XRP price (XRP) compared to Bitcoin (BTC), Ethereum (ETH) and most other major crypto tokens, recent data published by crypto analytics platform Santiment on X-Post revealed that the price is still among the top five cryptocurrencies in terms of profitability.

According to Santiment’s report, 78.8% of XRP tokens currently in circulation are profitable.

This means that the price of XRP is now higher than it was when these tokens were first issued on the blockchain.

This is a decent result, but it is still far behind Bitcoin’s 98.3% and Ethereum’s 95.1%.

The continued underperformance of XRP price compared to other major cryptocurrencies over the past year and a half explains this.

cryptocurrency has risen just 73% from its 2022 bear market lows, and is still trading 87% below its all-time high hit in early 2018, according to CoinMarketCap.

Bitcoin, which was last valued at $69,000, has increased in value by 4.5 times from its 2022 lows and reached new highs this year.

Ethereum has risen 4x from its 2024 lows and is now just 25% below its 2021 all-time high.

XRP Price Prediction – What’s next for XRP?

Long-term technicals for XRP price remain uninspiring, suggesting that BTC and ETH are unlikely to catch up in the near term.

XRP broke below its long-term uptrend in April and has been trading weaker since then.

XRP could rise if Bitcoin rises to a new record high above $74,000 and Ether returns to its all-time high.

However, chart analysis suggests a retest of support-to-resistance near $0.40 is likely in the coming weeks.

Fundamentals suggest a near-term recovery is unlikely.

In previous crypto bull markets, coins with strong adoption narratives were heavily favored.

Bitcoin takes the lead with spot ETF approval in the US. Ethereum could soon reach new all-time highs if an Ethereum ETF also launches in the US.

And coins like Solana have seen an explosion in user numbers since 2023, fueled by an influx of meme coin traders and airdrop hunters.

Coins that have reported slow user growth or no adoption at all, such as XRP and ADA, are struggling.

Many analysts do not currently believe that XRP is one of the best cryptocurrencies to invest in. Long-term price predictions are likely to remain pessimistic.

XRP Alternatives to Consider – PlayDoge (PD)

Traders looking to invest in a stable, low-risk cryptocurrency that will provide consistent profits over the next year should consider moving their holdings from XRP to BTC, ETH, or SOL.

However, some traders looking for bigger gains should consider entering the meme coin market.

If investors can invest early in new meme coins before they become popular, gains of 50x to 100x are possible.

This is a very risky strategy as there is no guarantee that a new coin will gain traction.

A new meme coin that Cryptonews.com analysts believe has a lot of potential is PlayDoge (PLAY).

The meme coin is packed with Play-to-Earn (P2E) features and supports fun mobile-based games.

The cryptocurrency’s presale has already raised over $3 million, despite only starting a few weeks ago.

PLAY is priced at $0.00504 USD, giving it a modest market cap of around $50 million.

Depending on how the games are received, PLAY could be one of the best meme coins this cycle.

Share This Post