Major pullback in stellar prices, but XRP preserves most of gains

In a tale of two rival currencies during good times, Ripple’s XRP has outperformed Stellar’s STR in weekend trading. STR

In a tale of two rival currencies during good times, Ripple’s XRP has outperformed Stellar’s STR in weekend trading.

STR has given back a good chunk of its recent 150% gain, which is to be expected when dealing with such numbers. Since peaking above 1000 satoshi in the middle of last week, it has lost about 40% to 600 satoshi ($0.00225). STR failed to break out into new all-time highs, roughly matching the 1000+ satoshi peaks set in September and shortly after launch.

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

Suggested articles

What to Look for in a Liquidity ProviderGo to article >>

STR has thus also given up its advances in market cap rank, falling back behind Namecoin to 11th at $7.8 million. It had climbed as high as 9th. While the rise was short-lived, it did open the door to additional gains in the future should it establish stability on higher ground.

For its part, XRP has come off highs but not nearly on the same scale as STR. It has given back only 8% over 3 days after peaking at 4000 satoshi, now trading at 3500 ($0.013). Thus, it continues to trade near an 11-month high and at a total valuation nearly 4x that of Litecoin.

The two currencies, which were both co-founded by Jed McCaleb, can be viewed as rivals in their claims to support decentralized finance like p2p international money transfers.

Got a news tip? Let Us Know