XRP Shows Worst Performance in Top 10 of Crypto Market
2024-10-30

In the current market rally, XRP is one of the least desirable assets and is performing noticeably poorly when compared to other top 10 cryptocurrencies. XRP's gains are still modest as it has only increased by 0.32% over the last day and by 0.33% over the past week, while major coins like Bitcoin - which recently reached $72,000 - and Solana - which has increased by more than 7.5% in the last week - are seeing significant upward momentum.
For XRP, this lack of movement is a bearish sign that it is not drawing much attention from whales or investors, particularly in a bull market environment. XRP's poor performance could be attributed in part to Bitcoin's overwhelming dominance, which has increased to about 60%. Other assets like XRP find it difficult to keep up, with Bitcoin's increasing share of capital inflow since investors are more likely to park their money in BTC in order to profit from its surge.XRPUSDT Chart by TradingView">
Due to Bitcoin's dominance, money from altcoins is frequently redistributed, which lowers the price action for assets like XRP. To further exacerbate the negative sentiment, XRP's trading volume is still low compared to other top 10 stocks, indicating little interest and trading activity. If this pattern persists, the lack of interest from institutional and retail investors may be a sign that XRP may experience additional price pressure. 
In particular, around $0.50, XRP may have trouble holding onto current support levels if it does not attract investor attention quickly. XRP's place in the top 10 may deteriorate in the absence of a surge in trading volume or whale interest, particularly as coins like Dogecoin and Solana continue to draw in new users. 