According to the latest information from the crypto research company Arcane Research ; With Bitcoin and Ethereum moving away from XRP , interest in Ripple's token has been drastically reduced.
Looking at the first half of 2020, the company said that after big sales from coronavirus in March, BTC and ETH were picking themselves up, 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 in between. 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 almost died, especially with the collapse of March! ”
Source: Arcane Research
The company reported that the market value of XRP, which had already declined, dropped 14 percent in June and that the 1 percent growth in the second quarter of 2020 was insufficient.
In the same period, BTC saw 44 percent and ETH gained 70 percent, together with gains and they performed much better than the 4th biggest cryptocurrency, XRP. Even the low performance and the new USDTs released caused the XRP's third place 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. XRP, which generally experienced at least one 'pump' at such times, could not perform similarly this year. It even fell throughout the whole 2020. XRP's drop to 0.000015 BTC had not worked 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. ”