XRP Sees Decline Across All Timeframes

XRP, one of the most well-known altcoins, is showing negative performance across all timeframes, as per the latest data from CoinGecko.

Key Takeaways

XRP is experiencing declines across all timeframes: 3.1% over 24 hours, 7.1% over the week, 19% for the month, and 12.5% year-to-date.
The anticipated advantages from the XRP ETFs, which have surpassed $1 billion in total net assets, are not translating into a price increase.
BNB has temporarily overtaken XRP in market capitalization but XRP remains in the fourth position.
Daily transaction fees for XRP have dropped significantly, indicating reduced network activity.

Despite expectations for a boost from upcoming ETF launches by firms like Canary Capital, XRP's performance is surprisingly low.

XRP Sees Decline Across All Timeframes

In the past 24 hours, XRP has decreased by 3.1%, and over the last week, it has dropped by 7.1%. The altcoin has seen a nearly 19% decline over the past month, and its performance year-to-date shows a decrease of about 12.5%. This disappointing trend is surprising, especially given the anticipated benefits XRP was expected to gain from the growing ETF excitement. Despite the recent launch of XRP ETFs, which have reached over $1 billion in net assets, the token is struggling. As of now, BNB, the native token of the BNB Chain, briefly surpassed XRP in market capitalization, but XRP has regained its fourth position according to up-to-date CoinGecko statistics. Notably, XRP's daily transaction fees have plummeted by 89%, reaching only 650 XRP (when averaged over the past 90 days), marking the lowest level since December 2020. This "total fees paid" measure indicates the overall activity and utility of the network; high fees generally reflect strong usage, while low fees may suggest a decrease in demand.