Bad News for Ripple as XRP Lags Behind BTC, ETH in This Key Metric

TL;DR

• A key metric showcasing the network and investor activity on a certain blockchain has revealed a massive difference in user engagement among the four largest cryptocurrencies by market cap.
• Nevertheless, analysts remain confident in XRP’s future price movements, as long as the asset remains above a critical support line.

https://twitter.com/santimentfeed/status/1922717938986922260?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank” rel=”nofollow noopener

Santiment’s analysis shows the substantial lead BTC has in terms of new wallets being created on average every day for the past month. This aligns with previous reports on BitcoinLinux’s website claiming that retail investors have returned for the world’s largest cryptocurrency.

Ethereum, whose price also picked up the pace in the past few weeks, has enjoyed over 110,000 new wallets created daily on average within the past month, while USDT sits far behind with 36,400.

However, Ripple’s situation is rather worrisome as only 3,500 new wallets emerge on a daily basis (again, on average). This suggests that retail investors have remained on the sidelines when it comes to new engagement with XRP, which is in stark contrast with the developments in December 2024.

At the time, the newly established wallets shot up to well over 20,000 while XRP was in the middle of its spectacular run to and beyond $3. Now, though, the lack of actual retail demand could spell trouble for the asset.

The past 24 hours have been somewhat painful for XRP, whose price has tumbled by over 5% and sits below $2.5 after getting rejected at $2.7 earlier this week. However, analysts are adamant that Ripple’s cross-border token has a clear sky ahead of it and will continue to rise as long as it doesn’t lose the $2.38 support level.

You can check some of the latest developments surrounding Ripple here, which also include a few big price predictions.

The post Bad News for Ripple as XRP Lags Behind BTC, ETH in This Key Metric appeared first on BitcoinLinux.