đ„đ„đ„ Data Shows That Despite Struggles, $XRP Ranks Among Top 5 Assets with Highest Profitability
The recent update highlights XRP's ongoing struggle to surpass the $0.50 level, sparking #stablecoin comparisons. Since dropping below $0.60 on April 12, XRP has failed to reclaim this key price point, despite occasional market upswings. However, XRP has maintained its $0.50 support, showcasing resilience but causing investor anxiety due to stagnant price movements.
Santiment's "Supply in Profit" metric reveals that most of XRP's circulating supply is trading at a profit. This metric compares a token's current value to its initial value on the #Blockchain , indicating whether it's trading higher or lower than its initial price.
Bitcoin ($BTC ) has the highest percentage of supply in profit at 98.3%, followed by Ethereum ($ETH ) at 95.1%, #Chainlink at 86.8%, and Dogecoin (DOGE) at 82.2%. Despite a year-to-date decline of 15%, XRP ranks fifth with a 78.8% profitability ratio.
XRP's high profitability is due to its initial low price and the timing of token releases. Ripple's monthly escrow releases, totaling 2.4 billion tokens annually, often coincide with low prices, maintaining supply profitability. For instance, 500 million XRP released on May 1 and 1 billion XRP on June 1 are now in profit, trading above their release prices.
In summary, XRP's ability to maintain its $0.50 support and high profitability ratio, despite price struggles, is largely due to strategic token releases and initial low pricing.
Source - thecryptobasic.com
