XRP: A Better Investment Option Than Bank Deposits
Date: 2024-04-01 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
Pessimism and Optimism
Even though XRP lags behind other cryptocurrencies on the market, its annual return suggests it remains an attractive option for investors compared to traditional bank deposits.
XRP Supremacy
Some prominent members of the XRP community have tried to counter the growing pessimism. One of them, known as "Mr. Huber", highlighted that XRP outperforms every savings account in the world in terms of annual returns.
Price Dynamics
Over the past 365 days, XRP has seen significant price fluctuations, reaching a low of $0.4218 and a high of $0.93 following the favorable outcome of Ripple's lawsuit against the SEC.
Comparison with Bank Accounts
Today, XRP is trading at $0.615, up 19% year over year. This percentage growth is three times the maximum annual return offered by traditional savings accounts.
Interest Rates
The average annual percentage yield for traditional bank accounts in the US ranges from 0.01% to 0.25%. Even the higher rates offered by online banks do not compare to the profits from owning XRP over the past year.
Conclusions
While XRP may be lagging behind other cryptocurrencies on the market for now, its yearly returns demonstrate that it can be a better investment option than keeping funds in bank accounts.
