If You'd Invested $10K in XRP in September 2018, This is How Much You'd Have Today

07/22/2024 01:46
If You'd Invested $10K in XRP in September 2018, This is How Much You'd Have Today

A top analyst has explained why XRP should be avoided

If You'd Invested $10K in XRP in September 2018, This is How Much You'd Have Today

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Pseudonymous cryptocurrency analyst cyclop (@nobrainflip), who boasts more than half a million followers on the X social media platform, recently published a list of cryptocurrencies that should be avoided by investors since they are "doomed" to never grow. 

If you put $10,000 into $XRP in September 2018.

Today, you would still have $10,000 🤯

99% of altcoins are doomed to dump/never grow.

Here are 10 coins you should AVOID (you're probably holding them) and how to recognize them 🧵👇 pic.twitter.com/eEOJjS8xl9

— 𝗰𝘆𝗰𝗹𝗼𝗽 (@nobrainflip) July 21, 2024

The list prominently features the Ripple-affiliated XRP token. As noted by the analyst, if you had invested $10,000 into XRP in September 2018, you would have ended up with the same amount of money today. 

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The analyst described XRP as an "unnecessary fork" of Bitcoin, adding that its valuation is overly inflated. 

According to data provided by CoinGecko, XRP is currently trading at $0.5827 after recently experiencing a substantial price rally. The token is still down a whopping 83% from its all-time high that was recorded on Jan. 7, 2018.       

Even though he has acknowledged that XRP is "not the worst coin," he still believes that it will be underperforming Bitcoin and Ethereum, the two leading cryptocurrencies. 

Other coins that should be avoided 

Ethereum Classic, Bitcoin Cash, Monero, and Axie Infinity have also appeared on the list of tokens that should be avoided. 

The analyst argues that Ethereum Classic has no prospects since it is being ignored by developers. The Bitcoin Cash fork failed to gain significant adoption as a means of payment, simply repeating the BTC concept with insignificant changes. 

Monero would be a bad bet due to its outdated technology as well as the high risks associated with privacy coins.  

When it comes to Axie Infinity, there is no longer any hype surrounding the project, and there is "nothing more to expect."

About the author

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Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].

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