Arcane Research, the crypto research and analysis company, claimed in its last report that interest in XRP has almost died.
According to the latest information from the crypto research company Arcane Research; With Bitcoin and Ethereum moving away from XRP, the interest in Ripple’s token is decreasing significantly.
Looking at the first half of 2020, the company stated that BTC and ETH were collecting themselves after big sales from coronavirus in March, but XRP has not been able to fully achieve this and is still struggling.
“Interest in XRP is dead”
In the evaluation of the research company it was said:
“All 3 cryptocurrencies made a strong start to 2020. However, after the huge sales in March, all three proceeded with different directions. ETH has increased by 75 percent and BTC by 27 percent since the beginning of the year and managed to recover from the Kovid-19 crisis. However, during the same period, XRP (year-to-date) decreased by 9 percent and was disappointing. Proof of stake expectations and DeFi innovations have contributed greatly to Ethereum’s growth, while interest in XRP has died, especially with the collapse of March! ”
Source: Arcane Research
The company stated that the market value of XRP, which had already decreased, decreased by 14 percent in June and that 1 percent growth in the second quarter of 2020 was insufficient.
In the same time frame, BTC saw 44 percent and ETH gained 70 percent and achieved gains together and performed much better in this sense than the 4th biggest cryptocurrency, XRP. Even the low performance and the new USDTs that have been published caused the third place of XRP to fall four in the ranking according to the market value.
Cryptocurrency analyst Luke Martin thinks that XRP won’t hit bottom until it hits the support point of 0.000015 (14 cents) in BTC parity:
“The past few months have been intense in terms of volume, interest, and story for large altcoin groups. In general, XRP, which experienced ‘pump’ at least once in such times, could not perform similarly this year. It even fell all over 2020. The drop of XRP to 0.000015 BTC did not work badly in 2017! If the same is going to happen, I can be patient with Ripple fluctuating at the bottom for a few more years. ”