Since the crash on 12 March, XRP has been in a heavy bull ride. The bulls were able to drive XRP up to $0.23 from $0.10 back in March 13, and have set a clear daily uptrend.
The digital asset is obviously fine, so why do most market analysts warn of the ultra-bearish value of XRP? It seems that the recent intensity of XRP could be just that, which is not going to last much longer. The main indicators seem to be against XRP in the long run. Looking at the XRP statistics on the chain doesn't get too far.
In the last five months since reaching a high all time point in November 2019, transactions on the XRP network have decreased significantly. In the past three years the number of ledgers has also declined significantly. This is definitely relevant because there are less interested people in XRP, but it has not been because 2017 for a short time.
There is a study published in April 2020 that observed and found out that XRP army is growing smaller by the each day. According to the report, in the first quarter of 2020, XRP has declined in the number of Twitter users, more than 50% since october 2018.
In addition, a Twitter crypto trader, called Aztek btc, noticed a alarming decrease in the number of its members on cryptocentric telegram networks.
According to this trader, a large number of members left their respective crypto communities between June 2018 and April 2020. In fact, between November of last year and this month, there was a great deal of this 'community capitulation.'
In March also, Tiffany Hayden, XRP's 'CEO' said she was selling all the XRP coins. Apparently, the feelings of XRP right now are not very optimistic and will affect the price.
For example, the one of the most outspoken XRP backers, Tiffany Hayden, revealed at the beginning of last month that she sold all of her XRP tokens not to support the Ripple project anymore.
Hayden thought that the Ripple group has so much animosity that has impeded significant projects from developing, adding that "wherever supporters of XRP come together, they don't have anything better to do than to talk shit about me." Furthermore she noted that it ruined her relationship with her parents and children-and she couldn't last.
Further, XRP's success in January 2018, which could also cause the exodus of the member mass, had been mediocre after reaching 3.84 dollars.
XRP seems to have been in a bullfight, mostly because the whole crypto sector is up and XRP has been pulled. Is XRP going to solve these fundamental problems in the future?
Resources:
https://xrpcharts.ripple.com/#/metrics
https://zycrypto.com/why-members-of-the-xrp-community-are-capitulating-at-an-alarming-rate/
