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HomeCryptocurrencyRipple CTO References 1,500% XRP Price Performance to Prove a Point

Ripple CTO References 1,500% XRP Price Performance to Prove a Point

The XRP community is debating on the cryptocurrency’s prospects again, with some pointing to its significant growth over an extended period and others highlighting its underperformance compared to its all-time high and previous massive surges. However, both perspectives are crucial when trying to understand XRP’s journey.

XRP’s Long-Term Growth

Ripple Chief Technology Officer (CTO) David Schwartz recently shed light on XRP’s impressive long-term performance. In response to a user claiming a loss on a seven-year XRP investment, Schwartz clarified that the digital asset’s price was around $0.033 in April 2017.

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These numbers translate to a significant 1,500% increase over the past seven years, representing an annual percentage yield (APY) of 47%.

While Schwartz’s statement highlights XRP’s long-term potential, it’s crucial to consider the user’s specific experience. The user clarified his purchase occurred in January 2018, following a price drop from XRP’s all-time high of $3.84.

While this does not add up to the seven years originally claimed, XRP has failed to reclaim its all-time high since January 2018, meaning this user has not made any profit on his purchase. The user went into more detail, highlighting further purchases at $1.25 and $0.78.

XRP has not reached $0.78 since it fell from $0.93 in July 2023 after the pivotal court ruling in the legal battle against the U.S. Securities and Exchange Commission (SEC). The last time XRP reached $1.25 was after its surge in 2021, which sent it to $1.96. Although XRP has crossed $0.7 multiple times since July 2023, it is yet to reach $0.78, putting this investor at a loss.

XRP’s Market Performance

XRP is currently ranked the seventh-largest cryptocurrency by market capitalization but has not kept pace with some peers. This underperformance can be attributed to two key factors:

The SEC Lawsuit: In December 2020, the SEC filed a lawsuit against Ripple, alleging XRP is an unregistered security. This ongoing legal battle has undoubtedly hurt XRP’s growth and adoption.

The 2022 Bear Market: The broader cryptocurrency market experienced a significant downturn in 2022. This bear market and the SEC lawsuit further impacted XRP’s value. The market did not start a recovery from this downturn until late 2023, and the resurgence has been met with hurdles.

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XRP’s Future Potential

XRP is trading at $0.5294, up 4.41% over the past 24 hours. Despite its challenges, XRP has maintained its position among the top 10 cryptocurrencies by market capitalization. This demonstrates its resilience and continued investor interest. While the lawsuit and market volatility pose hurdles, analysts are confident that a price explosion is imminent.


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Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.
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