XRP Outshines 92% Of Altcoins, Analysis ShowsHeres Why
XRP stood firm as crypto markets took a beating on Tuesday. Most coins fell hard, but XRP avoided hitting new lows. Market watchers now wonder if the altcoin might recover faster than other cryptos.
XRP Holds Ground In Tough Market
Tuesdays crash sent most crypto prices tumbling. XRP dropped to $2.23, falling 4% in just one day. This marks a rough week for the coin, which lost 17% in the weekly frame, but the drop wasnt as bad as earlier this month. During one of its biggest declines this year, on February 4th, the coin had sunk to $1.70 much lower than Tuesdays bottom.
Bitcoin, on the other hand, fell below $86,000. This was its lowest price since November 2024. The difference is clear: Bitcoin hit new recent lows while XRP did not.
Analysts See Promising Signs
A number of crypto experts have noticed that XRP is performing better. Dom, a crypto analyst, said the altcoin only had a fakeout below the important $2.25 price mark. Dom stated that for things to stay on track, XRP needs to close above this price.
$XRP update
Still looking good here as we got a fakeout below the important level ($2.25)
Vital to close the daily above and NOT accept below
XRP is holding up better than 90% of alts, chart isnt broken
I will share more thoughts soon, but need to see how BTC reacts next https://t.co/m5cOOCO88Z pic.twitter.com/EdWeRQfVxG
Dom (@traderview2) February 25, 2025
Dom also noted that Bitcoin might face more trouble if it falls below $85,000. Despite these concerns, he thinks the crypto is doing better than most coins in the market. His view: XRPs chart still looks solid compared to others.
Numbers Tell The StoryXRPs strength shows up clearly in market data. According to CoinCodex, the coin did better than 92% of the top 100 crypto coins during this downturn.
While XRP avoided making new lows, other popular coins werent so lucky. Both Solana (SOL) and Dogecoin (DOGE) fell to their lowest points of 2024 during Tuesdays crash.
Is A Price Recovery Underway?XRP has already bounced back with an 8% gain, bringing its price to $2.31. This quick recovery has cut its weekly losses to around 9%.
The coins ability to avoid deeper drops might give investors hope. While the entire market faces uncertainty, XRPs performance suggests it might weather the storm better than its competitors.
What happens next depends partly on Bitcoins movement. Many traders are keeping a close eye on the next price movement of Bitcoin, as it often sets the tone for the whole crypto market. If Bitcoin stabilizes, XRP might continue its upward path.
For now, XRP stands out in a sea of red. Its quicker recovery and stronger support levels could make it a coin to watch as the broader digital currency space tries to find their footing after Tuesdays crash.
Featured image from Gemini Imagen, chart from TradingView
Read more: https://www.newsbtc.com/news/xrp-outshines-92-of-altcoins-analysis-shows-heres-why/
Text source: NewsBTC
