Even though it has been a rough year for XRP, the asset was one of the top performers in 2017, during the last major bull run.
The question is then debated as to whether XRP could ever see this kind of performance again, with mixed opinions for and against.
The discussion began when the Twitter account Credible Crypto (@CredibleCrypto) posted a chart from CoinMarketCap that compared some of the best performing cryptocurrencies from 2017. In the image, it can be seen that XRP experienced a 36,018% growth during that year. The user also claims that if one had invested in XRP over Bitcoin, they would still be “up 3x in USD terms,” though the truth of that would heavily depend on just when the assets were purchased.
$XRP was the best performing asset during the last bull run, I think it’s allowed to take a little longer than the rest to get ready for the next round, no? You’d still be up 3x in USD terms had you invested in $XRP over $BTC prior to the last bullrun, even at its current state. https://t.co/3oGNWnGg0G
— Credible Crypto (@CredibleCrypto) December 16, 2019
XRP Once Again Causing Debate on Twitter
As with any type of statement about XRP, it wasn’t long before supporters and detractors began voicing their opinions. Many came to point out that there were projects that saw even more significant gains, which were not reflected on this list. This, in turn, prompted Credible Crypto to post an update:
On a closer look it does look like some alts did perform better than $XRP, not sure why they weren’t included in any of the lists I’ve found online. Regardless, it doesn’t change the fact that XRP was still one of the best performing assets of 2017. Even the best has to rest.
— Credible Crypto (@CredibleCrypto) December 16, 2019
Putting other assets aside, there was a good deal of support for the idea that XRP could once again see these types of gains, or at least outperform other significant cryptocurrencies. Some were even touting the notion that it was merely popular to hate on the currency across Twitter:
Let's be real, the average dude in CT realizes that the gang-mentality is to denigrate $XRP, so sheep everywhere trying to fit in shit on it, and positive reinforcement for their efforts pours in via likes and retweets.$XRP is going to be a mega-profitable long eventually.
— Fizeek$ (@FizeekMoney) December 16, 2019
Others felt that Ripple and XRP were always banking on hype and that the project amounts to a pump and dump coin. Admittedly no actual technical argument is levied against it:
Over such short periods of time, pump and dump assets usually tend to be the best performers…🤔
I don't see XRP making another such run tbh… Their tech seems pretty worthless to me, and I doubt that many people will fall for it a second time.— Yope (@soloyopee) December 16, 2019
Market Conditions May Be Too Unfavorable
Some cooler heads focused more on market conditions and pointed out that there could be a lot of “bag holders” from people who bought while the price was going up. This could make it difficult for the market to return to those levels, at least without a major injection of new money.
Who says best performer also says lots of people left bag holding from very high buy prices = heavy resistances above
But of course it could perform great again.— COIN BUSTER (@Coin_Buster) December 16, 2019
However one feels, it is true that this has been a hard 2019 for the XRP market. Prices have been slipping all year, and even prominent traders are saying that a price drop to levels as low as $0.03 is very much a possibility.
Still, the “XRP Army” has never lost faith, and it is plausible the asset will continue to be a major player whenever we do get to the next major bull run.