"In April 2021, Bitcoin peaked over $60,000 and XRP surged higher than most coins, making it seem like an ideal investment opportunity. However, the SEC's lawsuit against Ripple had already begun to undermine XRP's legitimacy."
"The Altcoin Season Index hit 98 on April 16, indicating peak conditions for tokens like XRP. Despite this, the rally was not supported by serious capital, as institutional backers had withdrawn following the SEC lawsuit."
In April 2021, XRP appeared to be a promising investment as it surged alongside other cryptocurrencies. However, a $10,000 investment made at that time is now worth approximately $6,900, reflecting a 31% loss. Conversely, if the same amount had been invested a year later at a lower price of $0.29, it would be valued at around $47,000 today. The initial surge was driven by retail traders, lacking solid institutional support due to ongoing legal issues with the SEC.
Read at 24/7 Wall St.
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