- XRP is the only top-tier cryptocurrency still profitable for holders who bought in the last three to six months, according to Glassnode, despite the broader market’s struggles.
- While other major assets like Bitcoin, Ethereum, and Solana are facing significant losses, XRP remains resilient, offering mid-term holders an unrealized profit of at least 11%.
In a market marked by uncertainty and price stagnation, XRP continues to shine as the only top-tier cryptocurrency still providing profitability for holders who bought in the last three to six months. A recent report by Glassnode highlights XRP’s resilience amid a broader crypto market slump, reinforcing its status as a potential safe haven in turbulent times.
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XRP Performance Amidst a Struggling Market
The cryptocurrency market has faced significant challenges this year, failing to replicate the explosive growth seen in late 2024. While Bitcoin and XRP hover near their opening prices, many altcoins have taken a deeper dive, eroding the value of investments for mid-term holders. However, XRP has managed to remain profitable, up 2% year-to-date, despite relinquishing the impressive 35% gains it achieved in January, when it peaked at $3.399.
According to Glassnode, XRP is the only major asset that remains in the green for holders who purchased between three and six months ago. This period, which includes the market’s brief bullish run at the end of 2024, saw many assets surge in value, only to fall back in subsequent months. However, XRP’s ability to maintain positive momentum sets it apart from its peers.
Comparing XRP’s Profitability to Other Assets
The latest Glassnode data paints a stark picture when comparing XRP’s performance to that of other leading cryptocurrencies. For instance, Solana, trading at $146, has seen a 28% drop from the cost basis for mid-term holders. Ethereum, which is priced at $1,800, is trailing behind with a 36% decline from the average purchase price for holders in the same timeframe.
Even Bitcoin, the market leader, is slightly below the cost basis at $95,000, showing some signs of weakness. While Bitcoin has experienced a recent rally past $96,000, it still faces resistance, and its price fluctuations suggest market uncertainty.
In contrast, XRP’s holders, especially those who bought during the late 2024 rally, are sitting on an unrealized profit of at least 11%. This not only reduces selling pressure but also enhances XRP’s appeal for new investors, particularly those seeking a more stable asset amidst the volatility.
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General Market Weakness and Future Outlook
The broader market sentiment remains weak, as indicated by the Glassnode analysis. The failure of assets to break above their mid-term highs suggests a lack of bullish momentum. Despite Bitcoin’s slight rebound from its April lows, it still struggles to maintain momentum. However, some market analysts remain optimistic, noting that the ongoing accumulation by Bitcoin whales and macroeconomic shifts, like progress in US-China trade talks, could spark a broader rally.
For now, XRP stands as an outlier, offering investors hope in a challenging market landscape. Its mid-term profitability and sustained positive performance provide a unique opportunity for those looking to hedge against broader crypto market risks.
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