In a recent tweet thread, CoinGecko, a renowned platform for cryptocurrency analysis, shared an intriguing insight into the performance of the top 10 digital assets of the year, excluding stablecoins. Despite facing multiple challenges, XRP has managed to maintain its position as one of the largest gainers in this elite group.
According to CoinGecko’s data, Bitcoin emerged as the winner, experiencing an impressive surge of 84% from its initial price of $16,540. Following closely behind, Solana (SOL) achieved a 70% increase despite the setback it encountered during the FTX collapse in November last year. Ethereum (ETH) secured the third position with a respectable 59% growth.
XRP Surges by 44%
XRP, currently in the fourth position on the chart, showcased a remarkable ascent of 44%. Starting the year with a value of $0.34, XRP had closed the previous year with a disappointing decline of 54% attributed to complications arising from Terra and FTX, along with mounting legal pressures.
A Promising Year for XRP
Despite the ongoing legal battle with the U.S. Securities and Exchange Commission (SEC), 2023 has proven to be a favorable year for XRP. Recent developments, such as the public disclosure of Hinman emails in the Ripple vs. SEC lawsuit, have provided some positive momentum. Ripple has also made significant strides in areas like custody solutions and expanding its central bank digital currency (CBDC) initiatives.
Despite the legal pressures, XRP managed to surge by 20.69% in the first four weeks of the year, reaching a peak at $0.4134. However, the market faced a bearish trend in the subsequent months, causing XRP’s value to decline. Notwithstanding, XRP experienced a notable rally in March, reaching its highest point of the year. Over an 18-day period, XRP grew from $0.3699 on March 11 to $0.5850 on March 29, marking a substantial 59% increase.
Amidst turbulent market conditions and consecutive drops, XRP has demonstrated resilience by achieving two more notable price highs in May and June. At present, XRP has experienced a 0.35% increase in the last 24 hours, with its current price standing at $0.48 per XRP.
XRP’s ability to maintain its position as one of the top gainers in the crypto market serves as a testament to its enduring popularity and the resilience of its community in the face of adversity.