XRP records significant gains despite weak broader market performance.
According to leading cryptocurrency market intelligence platform Santiment Feed, XRP saw a significant spike in its value yesterday amid a weak broader market performance. In a tweet yesterday, Santiment noted that XRP price spiked 6.2% while most cryptocurrencies declined.
The massive surge in XRP’s value resulted from a spike in address activities in the past seven days. Santiment data shows that XRP boasts about 136.19k daily active addresses.
“#XRPNetwork is +6.2% the past 24 hours while the majority of #crypto has declined today. In part, this is due to a major pump in address activity over the past week,” Santiment noted.
XRP is Now 3rd Crypto Asset By Trading Volume on Binance
It bears mentioning that in the past week, XRP trading volume has continued to spike across various trading platforms, including Binance and KuCoin.
Earlier this week, XRP ranked as the fifth cryptocurrency with the highest 24-hour trading volume on Binance. Interestingly, cryptocurrency users have continued to show massive interest in XRP.
At the time of writing this line, XRP is now the third coin with the highest 24-hour volume on Binance. Binance users have traded an astounding $91.89M worth of XRP in the past day. XRP currently sits behind Bitcoin (BTC) and Ethereum (ETH) in terms of crypto assets on Binance with the highest 24-hours volume.
Data from cryptocurrency aggregator CoinMarketCap shows an uptick in XRP volume in the past 24 hours. XRP has a 24-hour volume of $1.41B, representing an increase of 40.36% from its previous record.
XRP Records Positive Sentiments
Santiment further noted that XRP’s social dominance has contributed to its recent price increase.
“We have also seen a pattern of big social dominance spikes leading to $XRP price gains,” it said.
Santiment data also shows that the sixth-largest cryptocurrency by market capitalization has a social dominance of 1.15%.
It is worth noting that XRP is currently one of the most talked about crypto assets on various social media platforms, including Twitter. Crypto enthusiasts are discussing how the outcome of the lawsuit between Ripple and the SEC would affect the price of XRP.
A Ripple win is expected to bolster the price of XRP. However, a different outcome could cause the crypto asset’s value to plummet. Meanwhile, XRP is currently changing hands at $0.3745, up 4% in the past 24 hours.