Top Influencer Bullish on XRP Despite Slow Performance Amid the Broader Market Rally

The XRP community members have expressed disappointment over XRP’s slow-paced rally amid the ongoing bullish uptick in the broader crypto market. 

However, despite the slower-than-expected outcome,  a prominent crypto influencer and XRP proponent remains optimistic about XRP’s potential. The influencer, Moon Lambo, provided a strong defense for the performance of XRP.

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Influencer Defends XRP’s Slow Price Reclaim

XRP has failed to rally at the same pace as the broader crypto market. Notably, Bitcoin witnessed a dramatic surge today, December 6, reaching the $44,000 mark as it targets $50,000. Many altcoins followed suit, posting notable gains, while XRP appears left behind.

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As of 07:05 AM EST on December 6, XRP trades at $0.6221, reflecting a 24-hour price increase of 1.77% with a 1.73% seven-day gain. Compared to Bitcoin’s recent price performance, XRP has shown a paler trend even as an altcoin with more volatility.

Impressively, Bitcoin increased over 5% in the past 24 hours, with a weekly gain exceeding 14%. This slow-paced XRP movement has enraged its holders. Moon Lambo came to the defense of XRP amid the outrage in the crypto community, noting that XRP wasn’t the only token without any significant price rally. 

It’s not true that only $XRP is roughly flat or down. Out of the top 50 coins here are all the coins that are down today in order:$BNB, $XRP, $SOL, $OKB, $LINK, $XLM, $KAS, $IMX, $ICP, $MINT, $MKR, $AAVE, $RNDR, $EGLD, $LUNC, $RUNE, $MX

That’s 17 out of the top 50 coins,… https://t.co/ZDC9mQNMTG

— Moon Lambo (@MoonLamboio) December 5, 2023

According to Lambo, several crypto tokens traded at a loss during the early hours of Wednesday. These include the likes of Solana (SOL), Binance Coin (BNB), Chainlink (LINK), Immutable (IMX), and others.

Further, the crypto analyst stated that up to 17 out of 50 tokens, excluding the stablecoins, are trading at a loss. 

Additionally, Lambo cited more crypto assets that were trading flat with just a 1% price increase during his post. These include Polygon (MATIC), Tron (TRX), Monero (XMR), Arbitron (ARB), Stacks (STX), and Ethereum Classic (ETC). 

Lambo explained that considering shorter timeframes does not provide significant insight when profiling the price performance of crypto assets, including XRP. Notably, one has to consider more variables in a more extended timeframe for a more insightful outcome.

The analyst stated that XRP has maintained its position as the fifth-largest crypto asset despite its lag behind some altcoins. He noted that XRP remains among the top ten cryptocurrencies by market capitalization.

Lambo said:

XRP has a history of lagging behind most other coins, shaking out weak hands before going parabolic. I personally think $XRP is excellently positioned, and I’m looking forward to seeing altcoins run; I believe $XRP will be part of the party!

XRP’s Upcoming Price Rally

One primary factor limiting XRP’s price growth in the past was Ripple’s legal battle with the US SEC. However, the July 13 court decision by Judge Analisa Torres of Ripple as a non-security brought partial liberation to the token.

Subsequently, experts believe Ripple still has a chance for an explosive price rally through increased exchange listings and offerings, institutional adoption, and utility on the Ripple Ledger.

With the anticipated bull run of 2024, many believed that Ripple would be in the lead. Some predicted an imminent rally to $50 for the token.