XRP Becomes Top Trending Token. Here’s Why

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As a seasoned researcher with over a decade of experience in the dynamic world of cryptocurrencies, I’ve seen my fair share of market fluctuations and trends. The recent surge in XRP, Aptos (APT), and Chainlink (LINK) activity is indeed intriguing, especially given the context of Bitwise’s ETF filing and the ongoing SEC-Ripple legal battle.

Based on information from the cryptocurrency analysis tool Santiment, it’s clear that the XRP token, which is related to Ripple, has become the most popular or buzzworthy cryptocurrency as per the data available.

In my analysis, I’ve noticed a substantial surge in several key areas for XRP, including increased whale activity, trading volumes, and social media buzz. (Source: U.Today)

The focus on XRP has been renewed due to the latest Bitwise ETF submission and the ongoing legal battle between Ripple and the Securities and Exchange Commission (SEC).

According to Santiment, Aptos (APT) and Chainlink (LINK) are frequently mentioned as popular topics of discussion.

Souring on “Uptober”   

Historically, October has been the most favorable month for Bitcoin and numerous other cryptocurrencies. However, the trend may break in 2024.

This October, Bitcoin has dropped by over 3% and some other cryptocurrencies have experienced even steeper declines. Notably, XRP has struggled significantly due to the ongoing SEC appeal, with renowned commodity trader Peter Brandt forecasting that the value of XRP may plummet all the way to zero when compared to Bitcoin.

Based on Santiment’s findings, there’s been a significant drop in the frequency of “Uptober” being mentioned recently. This could indicate that numerous traders are less optimistic about the crypto market delivering strong results for October, due to the recent market correction.

However, even with the waning optimism, Santiment posits that it might lead to a temporary price surge in the near future.

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2024-10-04 11:51