Key Points
- XRP has seen a 315% growth over the past year, outperforming Bitcoin and most altcoins.
- Ripple’s XRPL has experienced a surge in total addresses and market cap dominance.
XRP, the digital currency of the Ripple network, has shown a remarkable growth of 315% in the past year.
This growth rate has outpaced that of Bitcoin and a majority of other alternative cryptocurrencies, or altcoins.
XRP’s Market Performance
Since the U.S. elections in November 2024, XRP’s performance has been particularly strong, outperforming most other altcoins and even its biggest rival, Bitcoin.
In the past 60 days, only three of 57 altcoins have managed to outperform Bitcoin, with XRP being one of them.
While many altcoins have seen a negative value performance against Bitcoin, XRP has been the only asset to record positive returns.
This performance indicates the increasing strength and influence that XRP is gaining in the cryptocurrency market.
Increasing Adoption of XRP
Over the past six months, XRP has shown substantial growth in its fundamentals.
The total addresses of XRPL, Ripple’s ledger, have consistently increased over the past year, from 5.5 million to 6.7 million.
This growth rate is significantly higher than that of Bitcoin, which has seen an increase of only 100,000 addresses in the same period.
Additionally, XRPL’s market cap dominance has also increased, from 1.09% to 5% in the past year.
This increase in market dominance indicates that many investors are turning to XRP, attracted by its lower prices compared to Bitcoin.
While overtaking Bitcoin may seem unlikely, XRP is on a trajectory towards sustained market dominance.
Despite the uncertain macroeconomic data affecting the cryptocurrency market, XRP’s short-term goal is to reclaim its all-time high of $3.8, hit $4, and flip $200 billion in market cap.
Until these goals are achieved, Bitcoin will remain a far-ahead competitor.
