XRP price increased by 12.5% last week. According to Santiment, the token’s social volume is also at a one-year high. According to the crypto analytics firm, the mention rate of the token has reached a high level of 16.2%. The increase in price and social volume is most likely due to investors waiting for a positive decision in the SEC vs Ripple case.
According to CoinMarketCap XRPhas become the second most popular trending digital asset. The token was just surpassed by the popular frog-themed meme coin Pepe Coin (PEPE). While PEPE is currently on a downtrend, when it was launched in April, it was the hottest asset of the moment. Additionally, the CoinMarketCap team said that “we also see historically high address activity fluctuations” for the asset. They also said that the price of the asset should “behave in a unique way for the time being.”
Is XRP Price Ready to Explode?
The controversial Hinman documents, crucial to the case, must be made public by June 13. The publication of these documents Ripple In addition to a potential positive outcome for XRP, it could lead to additional increases in price. Hinman’s speech is one of the most important pieces of evidence Ripple has against the SEC. Former SEC chairman William Hinman said that Ethereum (ETH) had magically changed from a security to a non-secure. This was an important step as there were no clear guidelines on how to classify digital assets at the time.
Also, pro-Ripple attorney John Deaton said that people who don’t buy XRP now will eventually buy it at $1. Furthermore, the attorney said that FOMO (fear of kidnapping) would not kick in until the asset reached $2. stated.
#XRP sits at .48 cents and it’s crazy to think about how many people, who refuse to buy it now, are going to buy it over $1. What’s even more crazy is that fomo won’t likely kick in until $2.
NEWS CONTINUES BELOW— John E Deaton (@JohnEDeaton1) May 29, 2023
You can follow the current price action here.