‘XRP Army’ Slowly Shrinking According to Report

Colin Muller

The once vocal Twitter community supporting the XRP (XRP) cryptoasset – commonly called the ‘XRP Army’ – seems to be continuing to slowly shrink, according to a just-out report from The TIE/eToro. The TIE are a crypto-analytics outfit who analyse just such ‘alternative data’ outside of more common trading data analysis.

According to their observations, Twitter mentions of XRP have declined by 16% during the first quarter of 2020. This seems to be consistent with a broader trend of waning interest in XRP, with The TIE reporting a 50% drop in mentions since October 2018, and 82% drop since January 2018. This is compared to Bitcoin (BTC) whose mentions have fallen 58% since January 2018, when both digital assets saw all-time-high valuations.

XRP price Q1 2020XRP chart by TradingView

Although price fell about 9% during Q1 along with the apparent drop in interest, XRP’s USD valuation has essentially recovered at time of writing to where it was at the start of 2020.

XRP price since Jan 2020XRP chart by TradingView

However, we can see the decline in Twitter mentions has generally tracked with the crypto’s market price, which is down about 95% since its historical high (a condition certainly not unique to XRP).

Featured Image Credit: Photo via Pixabay.com

Ripple’s Success as a Payment Company May Not Benefit XRP, Says Pompliano

Michael LaVere
  • Morgan Creek Digital co-founder Anthony "Pomp" Pompliano is a strong supporter of Ripple as a payment protocol company. 
  • Pomp remains unconvinced whether Ripple's success will ultimately benefit XRP as an asset for investment. 

Morgan Creek Digital co-founder Anthony “Pomp” Pompliano believes that Ripple’s success as a payment protocol may not benefit XRP in the long run. 

Speaking on the latest episode of The Pomp Podcast, Pompliano outlined his reasons for being a fan of Ripple. According to Pomp, Ripple excels as a blockchain-based payment company that has managed to forge relationships with banks and financial services across the globe. 

However, Pompliano remains unconvinced of whether Ripple’s overall success will translate into benefits for XRP. 

He said,

What I don’t understand, and I think where I choose to not engage on the XRP side, is I don’t understand why people are buying it, speculating on future price movements.

Pomp explained that he saw the advantages of using XRP in the Ripple ecosystem, but was skeptical of the cryptoasset for investment. 

He said,

To me, if Ripple is successful, that doesn’t mean XRP has to be successful.

Pomp continued, saying that if you separate XRP and Ripple, the latter’s ultimate goal is to build better software for banks. He called Ripple’s mission a “no-brainer,” “venture capital bet” and admitted to being jealous of missing out on investing in Ripple’s seed round. 

Featured Image Credit: Photo via Pixabay.com