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XRP, despite recent legal milestones, grapples with persistent challenges that have hindered its growth over the past five years. Within the crypto community, figures like pro-XRP attorney Bill Morgan and advocate Moon Lambo are leading a thorough investigation to uncover the factors influencing XRP’s trajectory.
What new insights are we about to discover? Read on to find out! One thing that we’re promising is that it’ll be completely worth your time!
What’s Wrong with XRP?
Bill Morgan, a respected voice in the XRP community, urges enthusiasts to dig deeper. While the SEC vs. Ripple lawsuit and Ripple’s escrow release are crucial factors, Morgan emphasizes the need for a nuanced analysis to pinpoint the root causes of XRP’s challenges.
Harsh Reality Check
In a recent video, Moon Lambo emphasizes the importance of a truthful assessment of the XRP ecosystem. Utilizing data from Developerreport.com, Lambo highlights the significant contrast in developer activities across blockchains.
According to Lambo, Ethereum boasts a robust community with 7,864 active developers, while XRP lags with only 45 full-time developers and 136 monthly active developers for the XRP Ledger (XRPL). This difference raises questions about the potential impact on XRP’s overall performance.
The Developer Dilemma
He further highlights the correlation between developer activities and price appreciation, drawing on the analysis conducted by another prominent crypto figure, Blockchain Backer. Acknowledging this correlation, the analyst argues that to ensure the long-term viability of XRP, there needs to be a substantial increase in developer activity within its ecosystem.
XRP is facing tough times while other cryptocurrencies like Solana and Cardano are booming, gaining over 200% in a recent rally. Looking at the XRP flat race, even the XRP army is frustrated with its performance. Yassin Mobarak, the founder of Dizer Capital and an XRP supporter, points out a tough decision for XRP fans: whether to stick with it or give up.
One major issue is the limited support from developers, with only 136 active developers compared to Ethereum’s 7,864 and Polkadot’s 2,100. This lack of developer interest is a big reason for XRP’s struggles in the competitive cryptocurrency market.
Also Read: BlackRock Decides to Stay Away from XRP ETFs; Here’s Why
Solutions Emerging
Acknowledging the issue, a thoughtful XRP enthusiast proposes a practical strategy to reignite developer interest in the XRP Ledger. The key lies in expanding capabilities for building various applications on the network, with a focus on pending amendments like automated market makers (AMM). These amendments, if approved, could serve as catalysts for increased developmental efforts, breathing new life into the XRP ecosystem.
In the pursuit of solutions, the XRP community stands at a crossroads, addressing challenges while seeking innovative paths forward.
Read More: Will XRP’s Listing on This Major Exchange Serve as a Catalyst for the Upcoming Bull Run?
Does a brighter future lie ahead? Only time will tell.