XRP Rises as Ripple Challenges Bitcoin for Crypto Crown

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CoinGecko, a popular platform for cryptocurrency analysis, recently shared an insightful thread about the performance of the top 10 digital assets of the year, excluding stablecoins. Of these, XRP has been particularly successful, managing to hold its position as one of the biggest gainers. Let’s take a closer look at this remarkable journey.

Leading the chart with an impressive 84% growth is Bitcoin. This notable performance sets the stage for the analysis of other digital assets. After Bitcoin, Solana (SOL) comes in at second place with a 70% increase, despite the setback it experienced during the FTX collapse in November. Ethereum (ETH) follows closely at 59%, proving its relevance in the industry.

Turning our attention to XRP, the cryptocurrency is currently ranked fourth, having gained 44%. At the start of the year, XRP had a price of $0.34, but this was quickly followed by a 54% decrease due to the Terra and FTX issues, as well as mounting legal pressures. Currently, its price is standing at $0.48 per XRP, with a 0.35% increase in the last 24 hours.

2023 is a promising year for XRP, despite the ongoing battle with the U.S. Securities and Exchange Commission (SEC). Positive developments, such as the public disclosure of Hinman emails in the Ripple vs. SEC lawsuit, have provided the cryptocurrency with much needed momentum. Ripple has also made great progress in areas such as custody solutions and expanding its CBDC initiatives. Despite the legal challenges, XRP still managed to climb up to a peak of $0.4134 in the first four weeks of the year, a 20.69% increase.

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