XRP, supported by Ripple Labs, ranks among the underperforming altcoins among the top 20 cryptocurrencies by market capitalization. With a fully diluted valuation of approximately $50 billion and an average daily trading volume of around $814 million, XRP has previously been referred to as a stagnant altcoin.

Moreover, XRP's price performance has been overshadowed by Bitcoin (BTC) over the past five years. Recent market data reveals that while XRP's price has only increased by about 63 percent in the last five years, Bitcoin's price has surged by over 1000 percent in the same period.

Veteran stock and crypto trader Peter Brandt predicts a bleak future for XRP holders, foreseeing continued decline in XRP's price against Bitcoin in the coming months, despite signals of an impending altcoin season. Brandt emphasizes that XRP has lost over 70 percent of its value against Bitcoin in the past five years.

The past three years have been tumultuous for XRP holders, marked by monthly market sell-offs by Ripple amidst an ongoing lawsuit. As the crypto market gears up for the bullish phase of the cycle, XRP continues to lag behind. Regulatory pressure and declining demand have led major exchanges like Binance to discontinue support for XRP in multi-asset mode.

While XRP's price against the US dollar has established a solid support level around 50 cents recently, it must reclaim the weekly support level above 58 cents to avoid further decline in the near future. As of Wednesday, May 15, 2024, XRP's price has decreased by approximately 2.3 percent over the last four weeks, trading around 50 cents.