Quick take:
The end of the first quarter of 2020 was marked by a massive drop in both the stock and crypto markets due to the panic surrounding the global economic effects of the Coronavirus. The selling panic in mid-March was nicknamed the Coronavirus Crash and was characterized by all digital assets – such as Bitcoin, Ethereum, XRP, Litecoin, and Stellar (XLM) – experiencing a massive dip on or around the 13th of March.
During the crash, XRP dipped to as low as $0.10 from steady levels around $0.25. At the time of writing this, XRP is valued at $0.192 indicating that it has recovered by a factor of 0.768x (76.8%) of the value before the Coronavirus crash.
Further checking the daily XRP/USDT chart courtesy of Tradingview.com, the following can be concluded.
Doing a similar analysis of XLM, we find that during the Coronavirus crash, the digital asset dropped from a value of $0.06 to around $0.026. At the time of writing this, XLM/USDT is trading at a value of $0.0729. This indicates that XLM has more than recovered from the Coronavirus crash by a factor of 1.215x (121.5%) and thus succeeded in outperforming XRP in the same time period.
Further checking the daily XLM/USDT chart courtesy of Tradingview.com, the following can be concluded.
One possible reason for XLM outshining XRP, besides a relatively more bullish chart, is the fact that claiming inflation rewards of XLM has been made easier by Binance. The latter exchange facilitates an estimated annual yield of between 2 – 4% in XLM from holding the digital asset on the platform.
Summing it up, Stellar (XLM) has had a perfect recovery since the Coronavirus crash when compared to XRP. Stellar’s performance might be further boosted by the ease of claiming XLM inflation rewards via Binance.
Additionally, XRP has had a rough few months in the crypto markets with its former number 3 spot on Coinmarketcap now permanently occupied by Tether (USDT). However, there could be hope for XRP as it is still in an earlier observed falling wedge that could resolve to the upside.