XRP has secured the top position amongst 3,907 mainstream crypto assets in social and market activity.
The hype remains sustained as XRP rides on recent auspicious developments to secure bullish sentiments amongst crypto proponents. The community has shifted its focus to the once-neglected asset, influencing a surge in its social and market activity. A recent ranking of digital assets based on this metric highlights how much XRP dominates the scene.
Crypto social intelligence provider Lunar Crush recently revealed that XRP is sitting on the No. 1 position on its Alternative Rank based on combined social and market activity. With this position, XRP towers over 3,907 mainstream assets in the crypto market.
Lunar Crush disclosed the data on Twitter Friday, quoting a previous tweet highlighting the massive increase in XRP’s social activity. “With leading combined social + market activity, XRP has hit AlternativeRank™ 1 out of the top 3,907 coins across the market,” Lunar Crush noted.
With leading combined social + market activity, XRP has hit AlternativeRank™ 1 out of the top 3,907 coins across the market! https://t.co/noWdowGXBX
— LunarCrush (@LunarCrush) September 30, 2022
In a previous tweet, Lunar Crush pointed out XRP’s impressive surge in social activity. In the past three months, social engagements for XRP have increased by a whopping 38% to 1.95B. Social contributors have also seen an 8% increase, sitting at 9.42K contributors.
We are noticing increased $XRP social activity along with its price +9.50% today?#XRP 3-months activity:
Price: $0.4910 +55%
Social engagements: 1.95B +38%
Social contributors: 9.42K +8%?Insights: https://t.co/CJ2eQmpKrW pic.twitter.com/Hk5I4VpJP3
— LunarCrush (@LunarCrush) September 29, 2022
Besides its social activity, XRP’s price action looks rather promising. The asset has seen an increase of over 50% in its value since July. XRP’s auspicious price movements and increasing social activity can be attributed to several bullish developments the asset is seeing of late.
Reasons:
Most recently, as revealed by The Crypto Basic, Ripple witnessed a major victory in the legal tussle with the SEC. Judge Analisa Torres overruled the SEC’s objections and ordered to release of documents about Hinman’s speech to Ripple. The watchdog will have no choice but to comply following months of a refusal. News of Torres’ order has been received well by the broad crypto community, as a win for Ripple is a win for the crypto community.
Furthermore, as a form of support, the Philippines’ largest non-bank remittance firm I-Remit has requested to file an Amicus Brief in the legal battle between Ripple and the SEC. The Crypto Basic uncovered the development Friday.
I-Remit’s move is influenced by its usage of Ripple’s RippleNet platform for transnational settlements. As the litigation leans in Ripple’s favor, XRP has been the central discussion within the crypto community.
Additionally, Flare Network recently confirmed rumors of the distribution timeline for FLR tokens to XRP holders. The XRP community has been anticipating the distribution since the snapshot two years ago. This disclosure has contributed to the increase in XRP’s social activity and bullish outlook.
Meanwhile, as of press time, XRP has come out victorious in its battle against BUSD for the 6th position of top crypto assets by valuation, according to Coinmarketcap (CMC) data. The asset’s market cap has surged by over 45% in the past month to a current value of $23.89B at the reporting time. Additionally, XRP has gained by 10.15% in the past 24 hours, as it currently trades at $0.47.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
