XRP Drops Behind Bitcoin SV As Investors’ Behavior Changes

New evidence shows that XRP drops behind Bitcoin SV as the behavior of the investors is changing, so other projects could also see a decline in crypto wallets addresses as well. Let’s learn more about it in the following Ripple XRP price news below.

According to the analysis by CryptoRand, a chart shows the number of dynamic addresses that have decreased among the crypto platforms over the past month. Crypto Differ figures show that the Ripple XRP price is by far the most heavily affected. The XRP dynamic addresses dropped by 29,208 over the past month, which means XRP drops behind other less prominent crypto projects such as Bitcoin SV, Dogecoin, and Decred. However, this number is not entirely accurate when we compare it against February, which saw a few other significant spikes. The three months charts of XRP from Coin Metrics shows a little more clarity on the charts.

When we see at the longer time frame, the number of XRP addresses remained low and stable, but it is still far more economical than other projects in the top 10. The key takeaway from the data is that the investors are moving their coins form exchanges into their wallets. There can be no question that the interest in long-term cold storage is also growing as the traditional market and economy are declining. This only supports the argument that the public views cryptocurrency as a safe haven.

This collective will idea will likely put pressure on the Ripple XRP price as well as on the supply of coins available for trading will decline. It could also boost the usage of Bitcoin and other blockchains for real-world usage. As the market recovers, the number of dynamic addresses on the crypto space will move up. The charts show that Bitcoin’s hegemony on the market rises above all others even though the number of addresses also declined in the past few weeks.

As the charts show, some of the crypto platforms spiked in dynamic addresses. Ethereum saw a 22 percent increase thanks to the growing use of the Ethereum blockchain and decentralized finance. DeFi dominates the ETH network, especially in the past few weeks.
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Stellar Lumens also saw an increase in network usage over the past few weeks, as reflected in the rise in several new addresses. The mass adoption of cryptocurrency will see the value indicated on the network usage. Bitcoin has to prove its utility to survive in the long term.