In light of XRP’s recent lackluster performance, historical data has emerged confirming that XRP outperformed Bitcoin (BTC) in 2017, rising 48,823% despite the initial lag.
XRP started 2017 with a price of $0.00678, recorded on January 1, 2017. An interesting twist is that XRP posted massive losses in the months leading up to January 2017 and beyond. The asset recorded five consecutive months of losses, from October 2016 to February 2017.
XRP collapsed 37% in these five months, starting in October 2016 at $0.00885 and closing February 2017 at $0.00557.
In contrast, Bitcoin posted massive gains in these five months, recording four monthly gains out of five, from October 2016 to February 2017.
While XRP fell 37%, bitcoin it skyrocketed by a whopping 87%, going 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 surpassed the first-born cryptocurrency in no time.
XRP rallied 48,823%; BTC rose 1,935%
In March 2017, BTC fell by 10%. However, XRP exploded for an impressive rebound of 284%. XRP recorded a 143% increase in April 2017 and a 374% increase in May 2017. Bitcoin also increased in these months, but by 26% and 70% respectively.
Both assets experienced price rises and falls throughout 2017, but experienced an overall bullish trend, posting higher highs and lower lows as the months progressed. However, XRP outperformed Bitcoin during this period by a huge margin even though the bull run started slowly.
Bitcoin’s all-time high at the time 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 materialized in January 2018, as it 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% rally during the 2017 bull run. Meanwhile, XRP rose from $0.00678 in January 2017 to $3,317 in January 2018, representing a 48,823% rally on the 2017 bull run.
Bitcoin and XRP Returns 2017
A strange similarity
XRP was aiming to repeat this pattern during the 2021 bull run, but the SEC lawsuit put the brakes on the price action.
Now that the asset has legal clarity, it appears to be repeating the 2017 trend as it posts disappointing gains while Bitcoin witnesses impressive rises.
As observed in 2017, some XRP investors have already expressed their dissatisfaction, leading to massive sell-offs. However, one analyst recently revealed that prices of assets like XRP will not skyrocket until Bitcoin surpasses its previous all-time high.
At the moment trade At $0.6250, XRP is only up 21% since October. However, Bitcoin is up 64% in the same time period and is currently trading at $44,088.
While this trend appears similar to the 2017 pattern, it remains uncertain whether XRP can record its 2017 surge due to the unpredictability of the crypto market.
