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Ripple community is shrinking at a rapid clip despite positive fundamental developments

According to The State of Digital Assets, Q1 2020, XRP’s becoming a crowd-favorite project, with a seemingly endless flow of support, is changing. Moreover, the Ripple community is shrinking at a rapid pace despite positive fundamental developments.

The Ripple community is getting smaller

In the first quarter of 2020, the number of Twitter users discussing cryptocurrency XRP dropped by 16%, while the XRP price fell by 9.51% in the same time frame.

While the report does not mention XRP, BitInfo points out that tweets referring to Bitcoin doubled from January 2020 to the end of March 2020. The cause could be due to the price collapse.

Cryptocurrency trader Zytek indicated that the number of members in Telegram chat rooms focusing on cryptocurrencies had dropped significantly. His analysis found that from June 2018 to 2020, there have been notable member losses of 25% to 75% in crypto groups from @Decred and @CryptoAlerts to @WhaleClub and @Litecoin. A good portion of these losses took place over the past six months from November 2019 to April 2020.

Specifically, the Ripple / XRP channel has seen a loss of 63.89% of its members since June 2018, down from 64,525 members to 23,299.

Several prominent XRP proponents that have called it quits

In October 2019, a blogger covering the cryptocurrency Hodor attracted 56,000 followers. They called it quits, leaving their account and blogs to fade away. Accounts are primarily considered one of XRP’s biggest drivers on social media.

Tiffany Hayden – the self-proclaimed “CEO” of XRP – decided to sell all her holdings, despite much of her Twitter following flocking to her page for news and thoughts on the cryptocurrency.

She said the abruptness was due to the XRP community deliberately attacking her character after she revealed what she saw as a flaw in the cryptocurrency’s primary network.

She stated:

“Wherever XRP supporters congregate, they have nothing better to do than talk shit about me, which my parents and children have the pleasure of reading. I’m done. Find somebody else to demonize and spend your life bitching about.”

Moreover, cryptocurrencies remain above 95% below their all-time highs, potentially accelerating investment, as evidenced by the social media psychology of asset performance.

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