BTC - Exclusive: XRP Failed To Keep Pace With Bitcoin Ethereum In The 2024 Bull Market — Experts Explain Why | Benzinga
The cryptocurrency market recovered strongly in 2024, following a protracted bear market that halted capital investments in the sector.
Spurred by soaring institutional interest in spot ETFs, bellwethers like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) have both surged more than 60% year-to-date, according to data from Benzinga Pro. Additionally, the total cryptocurrency market cap has grown by 55% since the year began,
However, amid the upsurge, XRP (CRYPTO: XRP), one of the most popular and largest cryptocurrencies, has fallen significantly behind.
The coin associated with Ripple Labs and the XRP Ledger has tumbled 16% year-to-date, making it one of the few large-cap cryptocurrencies to experience negative price action this year.
Benzinga talked to experts to understand the factors dragging down the payment-focused cryptocurrency in what seems to be a bull market.
The Legal Tangle:
Gracy Chen, CEO of crypto exchange Bitget, cited the ongoing legal tussle with the SEC as a significant factor preventing XRP's ascension.
She said legal challenges and regulatory uncertainties surrounding XRP may have created a level of caution among investors.
"XRP ...