Despite people’s deleting trust in crypto, interest in XRP records a huge spike.
It has been highlighted on multiple occasions that over the past couple of years, Ripple’s native XRP has not followed Bitcoin’s trajectory like most other coins. XRP’s price has largely been driven by the SEC lawsuit.
Initially, when the lawsuit was filed, in December 2020, XRP was sunk to the floor, when at the same time Bitcoin was taking other cryptocurrencies to the moon.
Now, as the lawsuit has been proven fragile, XRP is benefiting from it.
It is evident in the people’s rising interest in the coin. In a recent tweet by Lunar Crush, the analytics firm reported over 24.7 million social engagements in the past 24-hours. In the meantime, XRP’s social volume was recorded at 8,883.
Price +8.349% to $0.4139
Social volume 8,883
Social engagements 24,722,309
— LunarCrush (@LunarCrush) November 25, 2022
Later, as the spike faded the number 0f social engagements fell to 2,776. It is notable that the number had hit a high of 9878, on November 13th.
This recent rise in number of social engagements is also reflected in coin’s price action. Currently trading at $0.40, XRP is 0.3% in the day and 6.7% over the week. In the past 30-days, however, XRP is still down by 11.7%.
Moreover, the SEC lawsuit, as mentioned above, is doing pretty great for Ripple and XRP. In a recent tweet the former congressional candidate David Gokhshtein stated that he hopes Ripple’s victory for two reasons. The first one is the regulatory clarity that will come out of it and the second one is the way ‘XRP community that fought hard and stood their ground get rewarded’, over the past 2 years.