Invoice Morgan, a lawyer and digital asset enthusiast, believes that more people desire to buy XRP. According to Morgan, numbers show that only 221 accounts, which potentially represent less than 221 distinct consumers, now hold almost 30% of the total XRP circulating supply. He mentioned this in reaction to an XRP value conduct evaluation provided on Twitter by an XRP YouTuber known as Moon Lambo.
Lambo examined the value movement of XRP in respect to Bitcoin and stated that human behaviour has an impact on it. He disagrees with people who attribute any significant dip in the XRP price to the fundamental elements underlying the crypto project.
According to Lambo, a long-term view of XRP in contrast to Bitcoin indicates an unfathomable correlation between the two. Lambo observes that the behaviours of XRP and Bitcoin differ, although the short-term value comparability is insignificant.
Using a recent example, Lambo validated Santiment’s understanding that when XRP’s value increased by 4%, Bitcoin’s value remained unchanged. He also stated that Bitcoin normally decreases more than XRP during market crashes and vice versa and that it cannot be used to predict the long-term direction of the two cryptos.
According to Lambo, the current dip in XRP value, which occurred just a few days ago, is the result of human behaviour. It has nothing to do with the fundamental factors that surround cryptocurrencies. According to him, the dip signalled nothing about XRP’s long-term viability. He went on to say that this did not imply that there was something wrong with XRP or that XRP will never again exceed Bitcoin.
XRP was trading at $0.52 at the time of writing, representing a 1.31% drop in the previous 24 hours. During the same time period, Bitcoin increased by 0.22% to trade at $26,032.
