63% of the Ripple (XRP) community has gone for good
With the XRP price down 95% from its peak, the XRP Army has largely packed up its bags and gone home.
During the last two years, Ripple has lost over 63% of its active community, according to data collected from Telegram chat groups by a pseudonymous crypto trader.
Aztek’s data indicates that between June 2018 and April 2020, many crypto-focused Telegram channels have seen a severe drop in the number of members, leading to massive “community capitulation.”
Ripple’s XRP was the worst-performing crypto asset in the top 25 coins by market capitalization within the first quarter of 2020. The price of XRP is currently down 95% since its all-time high in January 2018.
Worse still, Ripple, the company dedicated to the coin, has been adding to the downwards pressure on the price.
“Early in the year, Ripple CEO Brad Garlinghouse revealed that Ripple would not be profitable or cash flow positive without selling XRP, indicating that its XRP sales were indeed helping to finance the business,” data analyst Messari noted, in a recent report.
Despite Ripple always being transparent and revealing its sales, XRP holders were unhappy with the company’s token dumps and even threatened to fork XRP unless Ripple stopped this practice. Public statements that the company does not care much about the price of XRP hardly helped to retain their community either.
Besides Ripple, a large number of users have apparently lost their interest in Litecoin too, as the project lost over 67% of its Telegram following since 2018. Many other crypto-focused groups lost 25–75% of their members as well.
But crypto’s not dead yet.