Given XRP's recent weak performance, historical data has emerged confirming that despite an initial lag, XRP outperformed Bitcoin (BTC) with a 48,823% increase in 2017.
XRP started in 2017 with a price of $0.00678 recorded on January 1, 2017. An interesting twist is that XRP experienced massive losses in the months leading up to January 2017 and beyond. The asset posted losses for five consecutive months from October 2016 to February 2017.
XRP plummeted 37% within those five months, starting at $0.00885 in October 2016 and closing at $0.00557 in February 2017.
In contrast, Bitcoin saw huge gains within these five months, recording four out of five monthly gains from October 2016 to February 2017.
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While XRP fell 37%, Bitcoin rose a massive 87%, rising from $571 in early October 2016 to $1,070 in February 2017.
Interestingly, Bitcoin continued to post gains beyond February 2017, but XRP recovered and soon overtook the first-born cryptocurrency.
XRP rose 48,823%; BTC rose by 1,935%
In March 2017, BTC fell by 10%. However, XRP exploded by an impressive rally of 284%. XRP saw a 143% increase in April 2017 and a 374% increase in May 2017. Bitcoin also rose during these months, but by 26% and 70% respectively.
Both assets experienced price rises and falls throughout 2017, but experienced an overall upward trend and recorded higher highs and lows throughout the months. However, XRP significantly outperformed Bitcoin during this period, although the bull market started slowly.
Bitcoin's then all-time high came in December 2017 after the bull run, when the asset rose to $19,666 at the end of the year. However, XRP's all-time high entered in January 2018 and rose to $3.31 in early 2018.
Essentially, Bitcoin rose from $966 in January 2017 to $19,666 in December 2017, marking a 1,935% increase during the 2017 bull market. Meanwhile, XRP rose from $0.00678 in January 2017 to $3.317 in January 2018, a 48,823% increase in the 2017 bull market.
Bitcoin and XRP 2017 returns
An uncanny resemblance
XRP looked to repeat this pattern during the 2021 bull market, but the SEC lawsuit dampened its price movement.
Now that the asset has legal clarity, it appears to be repeating the 2017 trend as it posts discouraging gains while Bitcoin is posting impressive gains.
As was seen in 2017, some XRP investors have already expressed their dissatisfaction, leading to sell-offs. However, an analyst recently revealed that the prices of assets like XRP will only skyrocket once Bitcoin surpasses its previous all-time high.
At the moment trade At $0.6250, XRP is up just 21% since October. However, Bitcoin is up 64% over the same period and is currently changing hands at $44,088.
Although this trend appears to be similar to the 2017 pattern, due to the unpredictability of the crypto market, it remains uncertain whether XRP can record its 2017 surge.
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Disclaimer: This content is for informational purposes and should not be considered financial advice. The views expressed in this article may contain the personal opinion of the author and do not reflect the opinion of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic assumes no liability for any financial losses.
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