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George Ma
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Crypto
April 21 13:36

Study: falling prices have reduced the number of XRP supporters

There is a direct correlation between the price of XRP and the number of its supporters
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Number of Twitter users who discuss the situation around Ripple (XRP) in Q1 of 2020 has decreased by 16%. Such figures are given in the joint report of eToro social investment platform and The Tie analysts.

Since the beginning of 2018, this figure has decreased by 82%. Researchers attribute this trend to falling prices and sales of Ripple tokens (XRP). They believe that there is a direct correlation between the price of XRP and the number of its supporters in the social network.
It is unknown how much of XRP was sold in the first quarter of 2020, but the sentiment of the community, according to eToro, may have been affected by sales in previous periods.
To date, XRP still ranks third in terms of capitalization (US$8.4 billion), but the price of the asset has fallen more than three times over the past year alone.
In Q4 last year, Ripple liquidated its position in XRP by US$13.08 million compared to US$66.24 million in Q3 and a record US$251.5 million in Q2.