Hedera's HBAR Sees 27% Surge on IBM Deal, but Lags Behind XRP

Hedera's HBAR surged by 27% after IBM listed The Hashgraph Group's IDTrust identity app in its Cloud Catalog, but quickly fell 16% the next day due to profit-taking.

IDTrust uses Hedera's network to verify AI agents' authority, and while it marks a commercial business application on the platform, the lack of disclosed customers limits its impact. Hedera charges small fees for transactions on its network, but these are typically fractions of a cent.

Despite this, HBAR recently outperformed XRP in price gains over 60 days, and its recent performance metrics show it has appreciated about 38% over the past month compared to XRP's 8%. However, XRP retains its value more effectively over the past year, trades closer to its all-time highs, and boasts a market cap significantly larger than HBAR.

XRP also benefits from Evernorth's backing, which holds over 473 million XRP valued at approximately $700 million. While this offers significant corporate support, it does not necessarily indicate actual usage of the XRP Ledger for transactions.