In recent months, XRP has seen relatively weak price movements despite its potential for practical real-world application.
Recently, its price tried to climb to $0.66 but was not rejected, subsequently falling back to around $0.42. The cryptocurrency is currently hovering between the $0.6 and $0.4 levels, failing to break new price territories in the past few years.
While some analysts see this as a sign that XRP is still undervalued, others maintain a more pessimistic view. Among them is analyst Josh Olshevitch, who recently characterized XRP as “dead” in his assessment of the current state of altcoins.
The performance of XRP significantly lags behind that of major cryptocurrencies such as Bitcoin и Ethereum, which saw significant gains. Although the overall crypto market cap has grown by over 50% in the past year, XRP has struggled to keep pace. While cryptocurrencies like BTC hit new all-time highs and others like Solana are about to do so, XRP failed to break the $1 mark. This lackluster performance led to criticism suggesting waning interest in XRP, especially as an investment asset.
XRP’s price stagnation has led crypto analyst Josh Olshevitch to question its viability for profit-seeking investors. During his analysis of altcoins, Olszewicz noted that XRP’s lack of movement makes it an unattractive option for traders, calling it “dead money.”
Some analysts believe that there is potential for significant growth. XRP supporters cite Ripple’s partnerships with major financial institutions as an indicator of future success.
However, while XRP’s price growth has been weak, its trading activity has remained consistent. Olszewicz acknowledged that there are days when traders can take advantage of XRP’s volatility, but he remains skeptical about the long-term upside prospects.
On the other hand, crypto analyst EGRAG has a more optimistic view, suggesting that XRP could rise over 700% to reach $4 over a longer time horizon.
