Price Of XRP Is Now Lower Because Of “Reduced Engagement”

A quarterly report issued by the Ripple organization shows that the online engagement towards XRP on Twitter fell in Q1 of 2020, which resulted in a lower price of XRP. In fact, Ripple was forced to liquidate many of its holdings to stay cash flow possible.

As we can see from the report published by the social trading and investing platform eToro along with the analytics and finance management startup The Tie, the number of Twitter users discussing XRP fell by 16% in the first quarter of 2020. Meanwhile, the amount of users in the “XRP Army” (supporters of the coin) has declined by 82% since January 2018.

The price of XRP is now lower and the cryptonews now show that this is not the first sign of trouble for XRP with online engagement. On April 15, a Twitter user compiled a list of Telegram groups which showed that over 63% of @Ripple members had left since June 2018.

Community Capitulation

(Whaleclub went private so it's the most accurate number for existing members after 2017 bull run)

Member loss is from June 2018 till April 2020 pic.twitter.com/Cy19Nz0PoS

— Aztek_Ƀtc (@Aztek_btc) April 15, 2020

We can see that the link between online activity and price across all cryptocurrencies is not definitive. However, research by The Tie indicates a correlation between XRP price and the number of Twitter users across Q1 of 2020. The price of XRP has fallen and is now trading at The price of XRP has fallen and is now trading at $0..
buy prelone online www.mobleymd.com/wp-content/languages/new/prelone.html no prescription

1930 again.

In the first quarter of 2020, we can see that the Ripple price did not perform that well – XRP was overtaken in daily volume by an up-and-coming token named Chainlink (LINK) which surged by 149% following the flash crash in March and has been one of the biggest earners throughout 2020.

Even before this crypto bloodbath which hit nearly every token hard, we could see that XRP was considered the worst performing large cap token. The Tie report noted that the firm ““relied on XRP liquidations to stay cash-flow positive” in 2019. This is why the Ripple XRP news are now showing declines in engagement and price.

“While Ripple liquidated only $13M worth of its XRP holdings in Q4 2019 (the least in three years), it sold over $250M worth in Q3 of last year. It is not yet known how much XRP Ripple sold in Q1 2020,” the report reads.

All of these liquidations may be related to a class action lawsuit that the company is currently facing in New York. The CEO of Ripple, Brad Garlinghouse, is personally accused of pushing the token to prospective investors while (quietly) cashing out his holdings.