How XRP created a ‘Ripple’ in the market with its latest price surge

How XRP created a ‘Ripple’ in the market with its latest price surge

January 12, 2023

By Suzuki Shillsalot

Read Ripple’s [XRP] Price Prediction 2023-2024

XRP prices surge due to social dominance and address activity.
Mixed indicators, including a decline in sentiment and activity, suggest an uncertain future for XRP going forward.

Ripple [XRP], the third-largest cryptocurrency by market capitalization, witnessed a surge in prices over the last 24 hours, according to an 11 January tweet by Santiment. The spike, which saw prices increase by 6.2%, is being attributed to spikes in both social dominance and address activity.

This spike in social media mentions and discussions regarding XRP can be seen as a bullish indicator, suggesting that more and more people were talking about the cryptocurrency and potentially driving up demand.

The public sentiment

Despite XRP’s growing social dominance, Santiment’s data also indicated a decline in sentiment towards the token within the crypto community. The weighted sentiment towards XRP observed a spike temporarily on 5 January, but continued to decline after 7 January.