Ripple’s XRP has significantly underperformed compared to its top 10 cryptocurrency peers this year. Unlike Bitcoin, which recently soared to record-breaking levels with a double-digit increase, XRP has failed to revisit its January 2018 peak. This disparity has drawn attention, prompting a well-known attorney in the crypto sector to provide insight into the factors behind XRP’s disappointing performance.
XRP: The Poorest Performer Among Leading Cryptocurrencies
A crypto analyst known by the pseudonym ScamDetective5 recently highlighted on social media platform X that Bitcoin has surged by over 117% this year, reaching an all-time high above $76,000. In contrast, XRP’s value has dropped by approximately 25% over the same period. The analyst advised investors to be cautious of claims suggesting XRP’s superior potential for returns, given its underwhelming performance.
In response, attorney Bill Morgan addressed the criticism, acknowledging XRP’s weak performance and confirming its status as the worst-performing asset among the top 10 cryptocurrencies over the past year. Morgan attributed XRP’s struggles to the ongoing legal battle between Ripple and the United States Securities and Exchange Commission (SEC). This protracted litigation, which has lasted four years, has exerted bearish pressure on XRP’s market price.
Morgan noted that market perception continues to link XRP closely with Ripple, which remains embroiled in what he described as an “unholy war” with the SEC. He cited a recent Forbes article that referred to XRP as “Ripple,” illustrating how the association impacts investor sentiment and keeps XRP’s price subdued.
Potential for XRP Under Trump’s Administration
Speculation within the crypto community suggests that the upcoming presidency of Donald Trump, who will take office in January 2025, may bring regulatory clarity beneficial to XRP. Many believe that Trump’s administration could lead to the resignation of current SEC chair Gary Gensler and the appointment of a successor with a more supportive stance toward cryptocurrency. Gensler, appointed by President Joe Biden, has been criticized for his stringent enforcement actions, which have targeted major exchanges such as Binance, Kraken, and Coinbase, as well as DeFi companies.
Trump has expressed intentions to dismiss Gensler on his first day in office, which would terminate Gensler’s term early—scheduled to end in April 2025. Such a move could pave the way for a bullish trend in XRP’s price, particularly if a new SEC chair supports crypto initiatives. Additionally, the pro-crypto sentiment under the Trump administration may boost the prospects of approving spot exchange-traded funds (ETFs) based on cryptocurrencies, including XRP.
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