XRP’s Price Could Keep Falling as Holders Decrease

In brief:

  • A new report by eToro and The Tie shows that the number of Twitter users discussing XRP has fallen drastically. 
  • The report also indicates that members of the XRP army have continued to decline since January 2018. 
  • The new stats could indicate a continuous trend of capitulation by XRP investors. 

Times have drastically changed for XRP since the exciting days of late 2017 and early 2018. Back then, XRP was also known as Ripple and the company had yet to issue a statement explaining that the two were different entities. Additionally, XRP was trading at a premium of $3.84 due to the prospects of being listed on Coinbase in early 2018. However, this did not materialize until later. This was due to the uncertainty as to whether XRP was a security or not. In February 2019, XRP was finally listed on Coinbase at a time when it was trading at $0.32.

XRP Army Numbers Continue to Dwindle

A new quarterly report by the teams at eToro and The Tie shows that the number of Twitter users discussing XRP has fallen by 16% in the first quarter of 2020. Additionally, the number of Twitter users in the XRP army has fallen by more than 50% since October 2018 and by over 82% since January 2018. The full statement from the report can be found below.

Over the first quarter of 2020, the number of Twitter users discussing XRP fell by 16% and price declined by 9.51% (a relative 2.14% outperformance vs. Bitcoin). The number of Twitter users in the “XRP Army” (the name given to the cryptocurrency’s supporters) has fallen by more than 50% since October 2018 and declined by over 82% since January 2018 highs. For comparison, the number of Twitter users discussing Bitcoin dropped by 58% from all-time highs.

More Trouble for the Price of XRP?

Using pure logic, a drop in the number of members in the XRP Army means that holders of the coin have finally thrown in the towel and sold their holdings.

In the past few months, there has been cases of XRP…

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