Researcher SMQKE stated that XRP has delivered strong returns in the digital asset market over the past two years. According to the data cited in the article, its annualized return is approximately 65%, maintaining a relatively high level of performance even during a period when many large-cap crypto assets have performed poorly or even declined.

Outperforming returns but with significant volatility

However, this performance did not stem from a sustained one-sided upward trend. XRP experienced several significant pullbacks during this period, followed by rapid recovery. The article argues that while this high volatility amplified holding risks, it also repeatedly created new buying opportunities and rebuilt upward momentum during rebound phases.

Unlike assets that rise steadily, XRP's price path is closer to a cycle of "deep falls followed by rebounds." This movement makes its returns more like they are driven by volatility rather than by a long-term, smooth upward trend.

Institutional demand expectations provide support

The article also mentions increasing institutional interest in XRP, with related narratives including XRP ETFs and the development of custody infrastructure. For the market, such developments suggest potentially improved compliant access channels and ease of allocation, thus supporting demand expectations.

Besides its investment attributes, XRP's application in cross-border payments and liquidity solutions is also seen as a differentiator from purely speculative assets. The article argues that these use cases provide a clearer business foundation for its market narrative.

Ripple executives mention 14th anniversary

Meanwhile, Ripple CEO Brad Garlinghouse recently mentioned XRP's 14th anniversary and expressed his honor in participating in the community's development. These statements reflect the project's long-term operational background and demonstrate that XRP has weathered multiple market cycles.

Overall, the article emphasizes that XRP's outstanding returns over the past two years do not necessarily indicate a stable trend, but rather are closely related to its high volatility. Driven by expectations of institutional access and the narrative surrounding payment applications, XRP continues to maintain market attention.