Exclusive: XRP Failed To Keep Pace With Bitcoin, Ethereum In The 2024 Bull Market — Experts Explain Why
Portfolio Pulse from Aniket Verma
In 2024, the cryptocurrency market saw a strong recovery, with Bitcoin and Ethereum surging over 60% year-to-date. However, XRP lagged behind, falling 16% due to ongoing legal issues with the SEC, selling pressure from Ripple Labs, and the approval of Bitcoin and Ethereum spot ETFs. Experts suggest that regulatory uncertainties and negative perceptions have dampened XRP's demand.
June 04, 2024 | 11:37 am
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POSITIVE IMPACT
Bitcoin has surged over 60% year-to-date in 2024, driven by strong institutional interest and the approval of spot ETFs.
The approval of Bitcoin spot ETFs has significantly boosted institutional interest, driving up the price of Bitcoin. This trend is likely to continue in the short term.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 80
POSITIVE IMPACT
Ethereum has also surged over 60% year-to-date in 2024, benefiting from the approval of spot ETFs and increased institutional interest.
Similar to Bitcoin, the approval of Ethereum spot ETFs has increased its legitimacy and attracted institutional investors, driving up its price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 80
NEGATIVE IMPACT
XRP has fallen 16% year-to-date in 2024 due to ongoing legal issues with the SEC, selling pressure from Ripple Labs, and the approval of Bitcoin and Ethereum spot ETFs.
Ongoing legal challenges with the SEC, consistent selling pressure from Ripple Labs, and the approval of Bitcoin and Ethereum spot ETFs have negatively impacted XRP's price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100