In the last year, crypto markets have undergone a massive shift with the rise of stablecoins, exchange tokens and other cryptocurrencies like Chainlink [LINK] and Tezos [XTZ]. XRP, one of the most popular cryptocurrencies, seems to be losing its lustre as it fails to make a breakthrough in price.
“Been bought by a bunch of people who finally figured out XRP was a scam”
The scepticism around altcoins has been especially high among traditional traders, who rarely look past Bitcoin [BTC] in the crypto markets. His derogatory views on the altcoin investors, especially XRP, has been sparked by the discrepancies between the actual and marketed use of XRP.
Nevertheless, Google search volume for XRP has been greater than Ethereum even today. It is higher than most altcoins including Bitcoin Cash [BCH] and Litecoin [LTC], and recent performing altcoins like Chainlink [LINK] and Tezos [XTZ]
Moreover, the value transfers in XRP has been higher than the transfers via Ethereum [ETH] as well. The value of transfer of stablecoins like USDT, however, has increased considerably on Ethereum, even surpassing Bitcoin’s transactions.
Furthermore, the transfer compared to other payment tokens like Litecoin [LTC] and recently, Bitcoin [BCH] is also higher with XRP. It surpassed the value transfers on Bitcoin Cash [BCH] recently as it dipped considerably in BCH post halving.
Hence, the sentiments around XRP and the transfer on the blockchain continue to show promise. However, the growth of stablecoins supply (USD stablecoin supply now over $9 billion) and the transfers might affect the value proposition for XRP and other payment focused cryptocurrencies.
Which altcoin do you think will lead the bull run, if it occurs? Please share your views with us.
- “At Some Point There’ll Be A Flash Crash” Says Gold Bull Peter Schiff
- Binance And FTX Worst Hit Exchanges As Losses Climb Almost Two Billion Combined
- Bitcoin S2F Founder says Current dip cannot stop Bitcoin from Adding Another Zero
- Football Clubs Look To Mine Cash Revenue With Crypto Offerings
- Fed Readying To Launch The US Crypto Policy? White House Directs Agencies To Prepare Report
- Here’s Why You Should NOT Yet Buy the Bitcoin Dip, Miner Capitulation Ahead?
- MicroStrategy (MSTR) Stock On Free Fall As SEC Rejects Its Bitcoin Accounting Strategy
- Second Consecutive Crash Day Extends Investor Loses Over $350 Billion, El Salvador Buys the Dip
- DeFi’s Liquidation Volume Hits $34.33 M ATH, The Highest Since Last year’s December
- Portugal opens First Physical Store for Buying and Selling of Bitcoin
- Solana Creeps Higher, Looks To Revisit January Highs AT $177.0
- Ethereum Price Analysis: Fibonacci Retracement level 0.618 Triggers Recovery Rally In ETH Coin
- BTC Price Analysis: Death Crossover Brings Nightmares On Satoshi Street; Is This A Buying Opportunity?
- Bitcoin Death Cross Haunting Investors, Will BTC Make or Break?
- DOGE Price Analysis: Highly Influential Bearish Trendline Undermines Bullish Attempts; Buy, Sell Or Hold?
- Terra Price Analysis: Will LUNA Price Bounce Back at 0.382 Fibonacci Retracement?
- SAND Price Analysis: Sandbox Price Losses 50% Retracement Level, Good Time to Buy?
- LINK Price Analysis: Chainlink price reclaims 200-day EMA, Emerging trendline Suggests More Upward Price Movement
- Harmony Price Analysis: Rising Parallel Pattern Could Lead 30% Growth In $ONE Price
- Ripple Price Analysis: XRP Bears Struggle To Breach $0.7 Support Zone, Is A Reversal Next Move?