Toncoin vs Ripple: TON crosses $6, why this is bad news for XRP

  • Number of addresses holding TON increased significantly.
  • TON outperforms XRP in terms of Social Volume, but fails to do so in the development space.

Toncoin [TON] has been a dark horse in the cryptocurrency market over the last few days.

The protocol and the token have showed immense growth, despite being less popular than other tokens and protocols.

TON takes the lead

According to recent data, TON has outperformed numerous tokens in terms of adoption. The rate at which TON was being accumulated was far higher than most popular coins, even coins such as Ripple [XRP].

Source: Santiment

TON outperformed XRP in terms of popularity as well.

Over the last month, the Social Volume around TON had grown significantly compared to XRP, suggesting that the number of comments around TON on social media platforms had surged.

The Weighted Sentiment for TON was much higher as well, suggesting that the overall positive sentiment around the TON token had grown.

XRP Ledger XRP 14.59.05 06 May 2024

Source: Santiment

In terms of Network Growth, it was seen that TON outperformed XRP. This meant that new addresses were showing interest in TON.

On the other hand, XRP’s Network Growth had been declining, implying a lack of interest from new users. If this trend continues and XRP is unable to attract new addresses, it could have severe impacts on its price.

Moreover, TON displayed its dominance in terms of velocity as well. At press time, the velocity at which TON was trading at had grown materially.

XRP lost out here as well, as its velocity was observed to be plummeting during this period.

xrp ton santiment

Source: Santiment

XRP shows growth

However, there was one area where XRP showed growth and outperformed TON — Development Activity.

Read Toncoin’s [TON] Price Prediction 2024-25

AMBCrypto’s analysis of Santiment’s data revealed that XRP’s Development activity stood at 0.917 at press time. On the other hand, XRP’s Development Activity stood at 0.005.

xrp ton development activity

Source: Santiment

At press time, XRP was trading at $0.5427 and its price had grown by 2.46% in the last 24 hours. TON, on the other hand, had grown by 6.04% in the same period and was trading at $6.10.

Next: Ethereum price prediction: ETH crosses $3.1K, another 50% gain next?

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