Expert Identifies Key Factor Holding Back XRP’s Growth
Renowned experts in the XRP community, Bill Morgan and Moon Lambo, have recently shed light on the reasons behind XRP’s prolonged underperformance in the market, despite the resolution of the SEC lawsuit. According to Morgan, the XRP Army needs to move beyond simplistic explanations that solely attribute the lackluster price performance to legal issues or Ripple’s escrow releases.
In a thought-provoking video, Moon Lambo urged for a more honest assessment of the current state of the XRP ecosystem. Lambo compared the adoption rates and development activities of various prominent blockchains within the crypto landscape. He referenced statistics from Developerreport.com, which revealed that there are 22,411 monthly active developers in the industry. However, XRP has only 45 full-time developers and 136 monthly active developers, lagging significantly behind other blockchains like Ethereum, Polkadot, and Polygon.
Moon Lambo also highlighted the correlation between developer activity and price appreciation during the previous market cycle. He emphasized that increased developer engagement is crucial for the long-term viability and growth of XRP. This resonated with another prominent crypto figure, Blockchain Backer, who extensively analyzed the impact of developer activities on cryptocurrency prices.
To address this issue, one user suggested expanding the capabilities of the XRP Ledger (XRPL) to attract more developers. They mentioned pending amendments, such as automated market makers (AMM), which could potentially drive increased developmental efforts. Gaining approval for these amendments was deemed a priority by the commenter.
Overall, it is clear that the lack of developer activity in the XRP ecosystem is a significant hurdle that needs to be overcome for XRP to achieve its full potential in terms of price performance and long-term success.