thecryptobasic.com
With XRP consistently underperforming despite its lawsuit clearance, top figures in the community have moved to investigate and pinpoint specific factors responsible for its five-year-long lackluster trajectory.
Among the voices leading the narrative are pro-XRP attorney Bill Morgan and XRP YouTuber Moon Lambo.
Bill Morgan contended that the XRP Army must shift away from simplistic explanations attributing the disappointment in XRP’s price performance solely to factors like the SEC vs. Ripple lawsuit or the Ripple escrow release.
I think this is one of @MoonLamboio’s most important YouTube segments. It is a must listen. The issue of the extent of development on the XRP ledger is a critical issue. The XRP community needs to move on from explaining its disappointment with XRP price action with facile…
— bill morgan (@Belisarius2020) January 21, 2024
In a recent video, Moon Lambo advocated for a more honest assessment of the current state of the XRP ecosystem.
In buttressing his argument, Moon Lambo compared the adoption rate of prominent blockchains in the crypto ecosystem, particularly from the angle of development activities.
Examining Developer Ecosystems of Notable Projects
Specifically, he cited statistics from Developerreport.com, suggesting that the crypto landscape has 22,411 monthly active developers as of the end of 2023.
Meanwhile, of the number, there are only 6,889 full-time developers, while 12,363 are part-time. Also, the crypto ecosystem has seen 3,159 one-time developers as of December 31, 2023.
Per Developerreport’s statistics, Ethereum leads the pack in development activities, with 7,864 active developers, of which 2,392 are full-time.
Collectively, these Ethereum developers contributed 58,117,360 total commits as of the close of last year.
Polkadot (DOT) and Polygon (MATIC) closely trailed Ethereum regarding their developer ecosystems. Each boasts comparable numbers of developers in the thousands.
Meanwhile, XRP lagged significantly behind, occupying a position far down the list, with at least 45 blockchains surpassing it. Specifically, the data revealed that the XRP Ledger (XRPL) had a mere 45 full-time developers and 136 monthly active developers.
Any Relevance to Prices?
Notably, Moon Lambo raised a pertinent question about the significance of developer activity. He cited analysis from another prominent crypto figure, Blockchain Backer, to answer the question.
This analyst established a meaningful correlation between developer activities and their impact on price appreciation during the last market cycle.
Moon Lambo acknowledged this correlation. He agreed that it logically makes sense for developer engagement to play a crucial role in influencing cryptocurrency prices.
XRP Ecosystem Needs Active Participation
Following the observation, Lambo stated that the XRP ecosystem needs a substantial increase in developer activity to ensure the long-term viability of XRP.
In response to this revelation, an X user suggested that the most effective approach to attract developers to the XRP Ledger (XRPL) would involve substantially expanding capabilities for building various applications on the network.
Notably, there are pending amendments, such as automated market makers (AMM). According to the commenter, the priority should focus on gaining approval for these amendments to usher in increased developmental efforts.