XRP Was The Worst Performing Asset In The Top 25 List: Messari

The native token XRP was the worst performing large cap token in 2019 – and the crypto news now suggest that 2020 is not looking much better so far. The cryptocurrency analytics firm Messari released fresh data this week, showing that XRP was the worst performing crypto asset in the top 25 coins by market cap this year.

The Ripple news also show that XRP was overtaken in volume earlier this week by the up and coming cryptocurrency Chainlink (LINK) – it even came close to losing its number 3 spot in the top 10 to Tether (USDT) during the flash crash occurring in mid-March.

Meanwhile, Messari said that the wooden spoon award from it follows the performance that Ripple (XRP) had in 2019, which saw the token lose more than 66% of its value against Bitcoin (BTC). In dollar terms, XRP was the worst performing asset and halved in price, going from $0.36 to $0.18.

We can clearly see that before the effects of the coronavirus pandemic impacted the cryptocurrency market, Ripple had been under fire for selling off large amounts of XRP. In the report, Messari quoted the CEO as saying that “Ripple would not be profitable or cash flow positive without selling XRP.” He also indicated that the sales were helping finance the company. Still, we can see that the total XRP sales in the final quarter of 2019 decreased significantly to $13.08 million, from the $66.24 million reported in Q3 2019.

XRP was overtaken in daily volume on April 13 by the LINK token. The Chainlink news showed that this decentralized oracle project is definitely something to watch out for. Moreover, the founder of Messari Ryan Selkis talked about LINK on his Twitter profile, saying that it managed to surpass XRP and ETH to become second in overall trading volume that day. The $130 million in daily trading volume for LINK was well over the $77 million for XRP, seeing it lagging in the fourth place behind ETH.

LINK is now ranked as the 11th largest cryptocurrency by market cap and was one of the best performing coins in 2019, growing from $0.29 to $1.80. Meanwhile, the Ripple XRP price is still struggling to breach the $0.20 levels and may continue doing so in the weeks and months to come.