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XRP owners are currently caught between conflicting signals. In the last year, XRP has achieved a gain of about 6% compared to traditional savings accounts. The person making this comparison is Mr. Huber. I find the comparison ridiculous. Because the comparison should be made with cryptocurrencies. The recent lackluster performance has caused XRP to fall behind other cryptocurrencies in the market. Moreover, the future course of XRP is not clear.
XRP Outpaces Savings Accounts in Yield
It seems that despite the negative mood, a recent share, albeit a bit ridiculous, highlighted the resilience of XRP. In particular, it emphasized the advantages it provides against stagnant savings accounts.
While XRP dropped to $0.42 in March 2023, it rose to $0.93 in July as optimism around the Ripple-SEC case grew. The cryptocurrency recorded a 1.30% increase on Sunday. After losing 1.35% in value on Saturday, the altcoin closed the weekend with a 0.41% increase at $0.6299. It is currently trading at $0.61, up 6% on an annual basis.
XRP Delivers Higher Returns Than Savings Accounts
This performance overshadows the yields offered by most savings accounts. According to a Business Insider report, the average annual percentage yield of US savings accounts is between 0.01% and 0.25%, which is quite low. Even high-yield online banks rarely exceed 5.30% APY.
XRP, on the other hand, has shown an increase of over 6% in a single year, outperforming any return offered by banks worldwide. Therefore, the question arises whether XRP owners still need to worry.
A leading cryptocurrency community researcher, “Mr. Huber” is actually making himself look ridiculous by using these words. According to him, XRP may not be shaking the crypto world right now, but it offers a much more sensible option than letting your money lose value in a savings account.
Dissatisfaction Within the Community
It is indicated that there is currently dissatisfaction within the XRP community in the cryptocurrency world. In the last three months, XRP has shown less than 1% growth, while competitors like Bitcoin and Ethereum have recorded increases of over 50%. This situation is causing disappointment among XRP holders and leading to increased uncertainties about the future.
The future trajectory of XRP depends on multiple factors. The ongoing Ripple-SEC case, which focuses on whether XRP is a security, looms over the cryptocurrency’s price like the Sword of Damocles. It’s worth mentioning that another sword hanging over its future is Ripple itself.
