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A prominent market analyst shows how XRP is now acting as a safe haven against Ethereum, Dogecoin and Solana.
The crypto market has been in a state of flux over the past six weeks. After the global crypto market cap hit an all-time peak of $3.73 trillion in December 2024 and faced a correction, it has lingered between $3.1 trillion and $3.3 trillion since then, with asset prices facing corrections.
Interestingly, XRP appears to be showing more resilience than the rest of the market, especially over the past week. During this period, most assets have either consolidated or witnessed price drops. However, XRP has performed impressively, leading market analyst Dom to dub it a safe haven against other tokens.
XRP Now Safe Haven Against ETH, DOGE, SOL
In a recent analysis, the market watcher shared three XRP charts against industry heavyweights Ethereum (ETH), Dogecoin (DOGE) and Solana (SOL). Notably, these assets, among the top 10 largest crypto tokens, have been victims of the market-wide turbulence.
For instance, Ethereum has dropped by about 10.3% over the last seven days, with most of its losses, about 8% drop, coming up on Tuesday, Jan. 7. However, XRP has demonstrated strength within this period, having gained by an impressive 8.7% with the past seven days.
The XRP/ETH chart shows that XRP traded for 0.0006561 ETH as of Jan. 7. This price skyrocketed to close yesterday, Jan. 13, at 0.0008042 ETH, suggesting that XRP has outperformed Ethereum by a massive 22.5% in the last week.
Meanwhile, amid XRP’s 8.7% gain in dollar terms over the past seven days, Dogecoin has slumped by 10.8%. As a result, the DOGE/XRP chart shows that Dogecoin, which traded at 0.1597 XRP on Jan. 7, closed yesterday with a price of 0.1315. This indicates that DOGE dropped 17.6% against XRP within this period.
Further, over the past week, Solana collapsed 15.7%, posting the most losses for any asset on the list, as it relinquished the $200 and $190 Marks. Within this period, the XRP/SOL ratio went from 0.0105 to 0.0137, indicating that XRP outperformed by 30%.
XRP Outperforms the Market
Data also confirms that besides ETH, DOGE and SOL, XRP has also performed better than most assets on the topic 100 lists in the past week, including Bitcoin (BTC). This prompted Dom to brand it a safe haven amid the bearish volatility that has enveloped the broader market.
In his disclosure, Dom confirmed that XRP had broken out of its triangle against the trio of ETH, DOGE and SOL, marking bullishness. Notably, he revealed that XRP had hit a 1,400-day high against Ethereum, a 400-day top against Dogecoin and a 1,400-day peak against Solana.
At press time, XRP changes hands at $2.53, up only 0.40% this morning. Its most promising performance came up over the weekend, as it surged nearly 10% on Saturday. Amid this run, market veteran Peter Brandt called XRP “the leader of the pack.”