An analysis of Ripple’s XRP shows that a $10,000 investment in September 2018 would still be worth $10,000 today, highlighting the token’s lack of growth compared to other cryptocurrencies.
Points
- A $10,000 investment in XRP in September 2018 would be worth the same today.
- XRP has underperformed compared to Bitcoin and Ethereum.
- XRP is criticized as an “unnecessary fork” of Bitcoin.
- The token’s valuation remains overly inflated despite recent rallies.
Pseudonymous cryptocurrency analyst cyclop （@nobrainflip）, who has over half a million followers on X, recently published a list of cryptocurrencies that investors should avoid, including Ripple’s XRP. According to the analyst, if you had invested $10,000 in XRP in September 2018, you would still have the same amount today, illustrating the token’s lack of growth.
Cyclop described XRP as an “unnecessary fork” of Bitcoin, criticizing its valuation as overly inflated. Despite recent rallies, XRP remains down 83% from its all-time high recorded on January 7, 2018. The token is currently trading at $0.5827, according to CoinGecko data.
The analyst also highlighted other cryptocurrencies that investors should avoid, including Ethereum Classic, Bitcoin Cash, Monero, and Axie Infinity. Ethereum Classic is seen as having no prospects due to being ignored by developers. Bitcoin Cash, another fork of Bitcoin, has failed to gain significant adoption as a means of payment. Monero is considered a bad investment due to outdated technology and the high risks associated with privacy coins. Axie Infinity has lost its hype, with little expectation for future growth.
XRP’s underperformance highlights the challenges faced by altcoins in maintaining long-term value and growth. Investors are advised to conduct thorough research and consider the long-term prospects of cryptocurrencies before making investment decisions.
Explanation
- A $10,000 investment in XRP in 2018 would still be worth the same today, indicating stagnation.
- XRP, along with other altcoins like Ethereum Classic and Bitcoin Cash, has underperformed.
- Investors should be cautious and research thoroughly before investing in cryptocurrencies.
- The analysis underscores the importance of evaluating long-term growth potential in the crypto market.