Emily Walker
As Bitcoin approaches the $106,000 mark, Ripple’s XRP has captured attention. Recent data from Google Trends indicates that interest in Ripple has hit an all-time high of 100, surpassing its previous peak from 2017.
The Google Trends score serves as a vital gauge across various sectors, including cryptocurrency. It measures online interest on a scale from 0 to 100, where 100 signals maximum popularity. In comparison, Ethereum has seen lower interest this month with a score of only 22. Bitcoin, meanwhile, maintained strong search activity, earning a score of 75 between December 1st and 7th due to its recent price surge.
Rising Attention for Ripple’s XRP
From December 9 to 15, XRP’s Google Trends score spiked to 100, a significant increase from the previous week’s score of 40. This rise demonstrates heightened interest from investors, coinciding with a price increase following the recent US presidential elections.
Initially, XRP struggled to stay above the $1 mark but broke through during the third week of November, surging past $2.60. The token’s market cap briefly approached $150 billion, positioning it as the third-largest cryptocurrency behind Bitcoin and Ethereum.
Decline in XRP’s Google Trends Score
Nonetheless, Google Trends data indicates a downturn in interest for Ripple. After reaching its peak last week, XRP’s score plunged to 55 points between December 8th and 14th, with predictions pointing towards further decline.
As interest in Ripple waned, it coincided with a period of price stabilization. Analysts suggest that the spike in Ripple’s score was mainly driven by its recent price gains.
XRP Price Trends
Currently, Ripple’s XRP is trading in the range of $2.35 to $2.39. This price level has remained stable since December 10th, indicating consolidation below $2.50.
Despite the recent robust performance—where XRP nearly reached $3—it remains nearly 30% lower than its highest price recorded seven years ago. Additionally, trading volumes have decreased, reflecting reduced investor activity.
However, public interest in XRP remains strong, fueled by promising developments. The upcoming RLUSD stablecoin is particularly piquing interest.
Market experts believe that the launch of this stablecoin could elevate Ripple token demand, potentially driving its price higher. Furthermore, speculation around Ripple’s potential ETFs continues to keep investor interest alive.
Featured image sourced from Pure SEO, chart from TradingView