As a seasoned crypto investor with a decade of experience under my belt, I can’t help but be intrigued by the recent surge in XRP‘s popularity, as reflected by Google Trends data. It seems that the general public is once again captivated by this Ripple-affiliated token, but I must admit, I’ve seen this dance before.
As per Google Trends’ data, searches for the XRP cryptocurrency have hit an all-time high, surpassing the search peaks from 2017.
The Google Trends rating is designed to show how frequently a specific term is being searched compared to other times, ranging from 0 (least popular) to 100 (most popular at its peak).
In December, Ethereum (ETH) saw a noticeably smaller amount of public interest when compared to Ripple (XRP), with a difference of 22 points.
Bitcoin, on the other hand, led XRP in terms of online searches (with scores of 43 and 28). Given its recent surge past $100,000, it’s no wonder that Bitcoin garnered so much attention. However, it’s important to note that Bitcoin is still a long way from matching the popularity it enjoyed early in 2021 or late December 2017.
Due to a remarkable surge, XRP gained significant public interest, coming very near to a value of $3 per token. This spike also temporarily increased its market capitalization to over $150 billion, making it the third largest cryptocurrency worldwide, associated with Ripple.
It appears that an analysis of search data suggests that the public’s enthusiasm for Ripple’s cryptocurrency may be waning. Over the past month, there has been a significant decline from a peak score of 100 to only 22. This decrease indicates that the token’s popularity began to dwindle as its price stopped increasing. Therefore, it seems reasonable to conclude that the spike in searches was likely caused by the initial price surge.
Based on information from CoinGecko, the current price of XRP is $2.43 following a 0.8% decrease in value over the last day.
Even though the token has seen a significant surge, it remains 28.8% below its highest point – a record set by the Ripple-connected crypto currency approximately seven years ago.
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2024-12-15 15:16