Ripple News: Top Reasons Why XRP Price is Not Surging High
The post Ripple News: Top Reasons Why XRP Price is Not Surging High appeared first on Coinpedia Fintech News
XRP continues to struggle with its performance despite recent developments such as clearing its legal issues. This has prompted key figures within the XRP community, such as the pro-XRP attorney Bill Morgan and popular XRP advocate Moon Lambo, to delve into an in-depth investigation to identify the factors contributing to XRP’s underwhelming trajectory over the past five years.
Expert’s Reality Check on Why XRP Not Rising?
Bill Morgan chimed in to advise the XRP community to have a more complex knowledge of the problems with the price of XRP. He says the problems can’t just be blamed on the SEC vs. Ripple lawsuit or the release of Ripple’s escrow. He suggests a comprehensive analysis to get to the root of the matter.
Moon Lambo, on the other hand, in his recent video, talks about how important it is to be honest about the current state of the XRP ecosystem in a new movie. For his point, Moon Lambo uses comparative data on development activities across different blockchains, focusing on information from Developerreport.com.
According to Moon Lambo, Ethereum has a robust developer community boasting 7,864 active developers, including 2,392 working full-time. However, XRP is notably lagging, ranking far down the list with only 45 full-time developers and 136 monthly active developers for the XRP Ledger (XRPL). This discrepancy in developer engagement raises questions about its potential impact on the overall performance of XRP.
He further highlights the correlation between developer activities and price appreciation, drawing on the analysis conducted by another prominent crypto figure, Blockchain Backer. Acknowledging this correlation, the analyst argues that to ensure the long-term viability of XRP, there needs to be a substantial increase in developer activity within its ecosystem.
XRP Community’s Frustration Amidst Crypto Boom
XRP is facing tough times while other cryptocurrencies like Solana and Cardano are booming, gaining over 200% in a recent rally. Looking at the XRP flat race, even the XRP army is frustrated with its performance. Yassin Mobarak, the founder of Dizer Capital and an XRP supporter, points out a tough decision for XRP fans: whether to stick with it or give up. One major issue is the limited support from developers, with only 136 active developers compared to Ethereum’s 7,864 and Polkadot’s 2,100. This lack of developer interest is a big reason for XRP’s struggles in the competitive cryptocurrency market.
Proposals for Improvement
In response to this observation, an X user suggests a practical approach to attract developers to the XRP Ledger, proposing the expansion of capabilities for building various applications on the network. Notably, pending amendments such as automated market makers (AMM) are highlighted as potential catalysts for increased developmental efforts. His focus is on gaining approval for these amendments to enhance the attractiveness of the XRP ecosystem to developers.
