The social volume metric records the number of mentions of a digital currency on different social media platforms. This trend helps to show developments and increasing investor engagement. The increase in XRP in the weekly time frame is much higher than previous records. Social volume records dated January 30, 2021 show that Ripple’s level of engagement has risen to peaks. According to Santiment, this is the highest level since September 21, 2018, when XRP rose from $ 0.32 to $ 0.77.
Similarly, other metrics such as the number and volume of active addresses also pointed to this higher number. Active addresses in the XRP network increased from 10,776 to 20,298 between January 28-30. Transaction volumes also grew significantly in this period, surpassing Bitcoin.
As we have previously reported, although XRP declined at the time of writing; According to a report on BeInCrypto, the sudden increase in metrics like this could indicate the possibility that the coin will have more room to grow.
At the time of writing, XRP is trading at $ 0.42.
Ripple (XRP) was reborn from its ashes
The value of Ripple (XRP) fell from $ 0.58 to $ 0.23 after a local peak of $ 0.77 between November and December. XRP’s market value started to fluctuate until the bulls made a comeback that led to a rapid recovery.
Currently the fourth largest cryptocurrency, according to CoinMarketCap, XRP made its final splash with the help of individual investors on the WallStreetBets subreddit. However, the coin went down at around 17:00 BST. Reddit users were also responsible for the extraordinary volatility seen with Dogecoin.