According to the report cryptodiffer, the hope for XRP, the third largest cryptocurrency by total market value, seems to be gradually decreasing.
Did XRP Traders Give Up?
Looking at the last 4 weeks, it turned out that there is a decrease in the active wallet addresses of XRP traders unlike the rise of other cryptocurrencies. Crypto analyst Crypto Rand said in a statement about the issue that XRP investors either started giving up or doing “HODL for Lambo”.
Looking at the graph in the tweet, it is seen that XRP is the 15th cryptocurrency in terms of growth in terms of active address wallets. This shows that XRP investors either lose all their hopes and sell whatever they have at their expense, or at least cut their short-term hopes and focus on long-term investment after the decline.
Bitcoin’s upcoming Halving may affect BTC first, and subsequent altcoins. In addition, many investors may consider their assets as long-term investments due to the coronavirus crisis. Still, this drop in XRP wallets seems worrying.