The Record XRP Drop
Own cryptocurrency Ripple XRP has entered a phase of uncertainty and stagnation. A 95% drop in XRP price was a decisive factor for a drop in confidence in the crypto asset. After it became clear in trading circles that XRP would not be able to return to the level of the historical maximum of 2018, investors began to actively dump this cryptocurrency.
The negative sentiment that has formed around XRP has also directly affected Ripple’s reputation. According to insider data, from June 2018 to April 2020, about 63% of participants left the platform community.
The crypto trader Aztek said that in the last 2 years a mass exit of participants from the Telegram crypto channels was recorded. These data confirm forecasts that the cryptocurrency Ripple may continue to lose a significant part of investors and traders.
XRP market indicators do not inspire hope for the restoration of previous positions shortly. The Ripple cryptocurrency was among the 25 worst coins by market capitalization in the first three months of 2020. Many analysts in such conditions refuse forecasts regarding the prospects of XRP in the cryptocurrency market. XRP has settled for a long time at the bottom, a negative attitude towards Ripple is firmly established in the minds of crypto activists.
Ripple Supports XRP Market Capitalization Reduction
For many users, the paradox is that Ripple supports the depreciation and massive sale of XRP. This was stated by Ripple CEO Brad Garlinghouse:
“Ripple will only be profitable when selling XRP. The growth of cryptocurrency sales allows us to support the business financially. ”
Ripple was always open and did not hide token sales data. Sincere support for the dropping of XRP and the course to reduce its price from Ripple has caused discontent among the company’s adherents.
Not only XRP has recently lost its adherents. There is also a decrease in interest in other crypto assets. In particular, the number of participants in Litecoin crypto channels in Telegram decreased by 67%.