Saturday, January 16, 2021
Home Crypto News Analysis Google Trend Shows Interest in XRP Highest In Two Years. 

Google Trend Shows Interest in XRP Highest In Two Years. 

- Advertisement -

Interest in the term XRP has peaked and reached it highest compared to last two years. As a result the price of the third-largest crypto asset by market cap has more than doubled in a week.

Read: Why Ripple Price Explodes To Over 100% In Seven Days

According to Google Trends, interest in this Ripple project is now at its highest since late September 2018. The only time it exceeded its 2018 level was during the December 2017 – January 2018 peak.

Interest in XRP in the past 12 months:

Interest in XRP in the past 12 months

We can also compare this with the interest expressed in Bitcoin (BTC), which stands as a giant (the red line) above XRP (the blue line) according to the table below. BTC searches also peaked during the January 2018 frenzy, peaking again in mid-October 2020 and hitting the levels it previously saw in late June 2019.

Btc google trend

And while the XRP price rose to its highest point since May 2018 ($ 0.765), crypto analytics firm Santiment noted that the number of unique addresses executing transactions on the XRP network in one day (24,408) was the highest output since 1 May 2020.

Additionally, XRP rose to the second position of the most popular coin ranking website CoinGecko. Now stabilizing at third position above Tether.

 

Then a twist. XRP saw a rapid crash, and caused pain among those who bought at the top. 

 

That said, it followed a rapid comeback, currently trading at USD 0.667, up 23% in a day, 121% in a week, and 168% in a month. It is still down from the USD 0.766.

But can be the cause in such price increase of Ripple.

Among the recent events, Ripple announced their partnership with UK-based financial services provider MoneyNetint.

Earlier this month, Ripple Labs filed a trademark with the United States Patent and Trademark Office for a new product called Paystring, intended to cover the categories of electronic financial services, monetary services for receiving and paying out money, exchanging fiat currencies and virtual currencies.

Ripple price could also have benefited from the success of their partners.

 

Additionally the other reason in price increase is the event  approaching on December 12, 2020. Where an airdrop of 45 billion Spark tokens to XRP holders of non-custodial wallets by blockchain platform Flare Network will be rewarded. This mega event is backed by Ripple’s investment arm Xpring, rebranded as RippleX.

According to Flare, 28 exchanges are currently supporting the airdrop.

Ripple has also posted a vacancy to recruit a Senior Director for Central Bank Engagements. The clearly indicates that the company plans to increase its focus on digital currency initiatives.

Meanwhile, others argue that people are buying XRP because they cannot afford BTC.

More comments:

Read More:

Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown has obtained his master's degree in Stock Trading And Investing. His specialty is analyzing the price actions of crypto and stock markets. Albert provides a major role in TheCryptoBasic as a crypto analyst. He is also known for his work on Twinkle Magazine and TipRanks.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Reasons Behind Chainlink (LINK) Price Making New All Time High

Chainlink (LINK) price achieved new highs increasing over $20 touching 22 USD. The price of LINK has risen by close to 30% in the...

SIMBA Chain Got A $1.5 Million Contract From The U.S. Office Of Naval Research To Develop Blockchain-Based Solution For Critical Military Weaponry Parts

SIMBA Chain, a blockchain-based company, has been received a contract of $1.5 million to create a system for predicting demand for critical parts of...

Another Cryptocurrency Exchange Backed XRP: “We Will Continue Listing XRP”

The U.S. financial authority, the SEC, has sued Ripple over the XRP sales. After the securities lawsuit, many popular cryptocurrency exchanges removed XRP from...

A Chinese Hospital Started Issuing Electronic Invoices On Blockchain Technology

The state hospital of Chengmai County in Hainan Province, which positions itself as the center of technology development in China, has released the first...

Kraken Allow Buying Of Monero With A Debit Or Credit Card

The Monero team tweets that it is possible to buy Monero directly on the Kraken crypto exchange with debit or credit card. https://twitter.com/monero/status/1349452657166065664

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.