- Arcane, cryptocurrency intelligence platform, says people are losing interest in XRP
- Latest research by Arcane shows that interest in BTC and ETH is increasing as interest in XRP is reducing
Ripple News Today – Ripple’s XRP is one of the most controversial tokens in the cryptocurrency community. For many years, Ripple has been accused of things like selling unregistered securities, manipulating the price of XRP, and so much more. The XRP army is becoming less of an army every day as members lose faith in Ripple and XRP. The latest research by Arcane shows that interest in XRP is reducing at the same time interest in BTC and ETH is increasing. During the first half of 2020, XRP was the third-largest cryptocurrency per market capitalization as it has been for many years. However, the Corona induced sell-off pushed the price of the token lower and lower against the USD until it eventually fell to the 4th position on CoinMarketCap.
Ripple News Today – XRP is Has Fallen By Over 9% Since the Beginning of 2020
The entire cryptocurrency market has gone through ups and downs since the beginning of the year but the XRP token has faced more lows than highs. Bitcoin BTC has increased by 27% against the USD year to date and ETH has increased by an amazing 75%. So, you can understand why XRP’s price action is discouraging to everyone including members of the XRP community. Even Cardano ADA has moved from the 11th largest cryptocurrency per market capitalization to the 8th largest cryptocurrency per market capitalization. Part of the research from Arcane was as follows;
XRP (XRP) Price Today – XRP / USD
“Initially, 2020 started strong for the top 3 coins but as the markets crashed in March, the three musketeers have seen vastly different growth trajectories. ETH (+75% YTD) and BTC (+27% YTD) have recovered from the Covid-19 crash, while XRP disappoints (-9% YTD)… Defi innovations and Proof-of-Stake anticipation have been driving the ETH growth, while the interest into XRP has died off as XRP struggles to recover since the crash.”
Meanwhile, the price of the Ripple XRP token has started recovering against the USD. It has now moved above the $0.1800 level after staying in the $0.1700 level for more than 7 days. It is currently trading at $0.184414. This means that it is up by 4.64% against the USD and up by 2.85% against the price of BTC. The market capitalization is $1,106,087,293 and the 24 hour trading volume is $8,161,751,488.