XRP’s social activity spike will have this impact on its network

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  • Ripple’s social met­rics activ­i­ty increased tremen­dous­ly and stood out among the top cryp­tocur­ren­cies in the last 24 hours
  • The on-chain sta­tus of the Rip­ple chain remained in a neu­tral state as traders reignit­ed their inter­est in XRP in the futures market

Ripple’s [XRP] social men­tions and engage­ments soared as Lunar Crush report­ed that XRP’s engage­ment spiked as much as 24 mil­lion. This meant that the token hit the height of com­mu­ni­ty inter­ac­tion among thou­sands of cryptocurrencies.

Ripple social mentions and engagements

Source: Lunar­Crush


Read Ripple’s Price Pre­dic­tion 2023–2024


Loosening the bolts on Ripple

Fol­low­ing the spike, XRP’s net­work growth failed to fol­low the trend and fell to 2776, accord­ing to San­ti­ment. The met­ric had pre­vi­ous­ly surged to 9878 as of 13 November. 

The cur­rent decrease sig­ni­fied that only a few new address­es have been onboard­ed on the Rip­ple chain. The address­es that already exist­ed on the net­work have held back on per­form­ing sig­nif­i­cant transactions.

In addi­tion, the trans­ac­tion vol­ume in prof­it or loss was 1.445 as of this writ­ing. The con­di­tion of this met­ric meant that the assets trans­act­ed with­in the inter­val were only in mod­er­ate prof­it and loss­es. Hence, the social met­ric increase rarely sparked sub­stan­tial prof­its for investors.

XRP profit, loss, and network growth

Source: San­ti­ment

XRP’s investors seemed to have reignit­ed their inter­est in trad­ing the token in the deriv­a­tives mar­ket. Accord­ing to Coin­glass, XRP’s futures open inter­est across almost all exchanges has been positive. 

In fact, this renewed inter­est was in dou­ble-dig­it per­cent­age increas­es. So, it was cer­tain the vol­ume in the deriv­a­tives mar­ket had been filled tremendously. 

Despite the increase, traders had lost some of their fund­ings to the mar­ket. At press time, there seems to be an equal divi­sion of the total 24-hour $3.50 mil­lion liq­ui­da­tions. This implied that the XRP price has been swing­ing between upticks and decreases.

Ripple futures open interest

Source: Coin­glass

Here’s the state of others

Irre­spec­tive of the deriv­a­tive mar­ket inter­est, the neg­a­tive sen­ti­ment was in pur­suit of draw­ing down the ben­e­fi­cial opti­mism dis­played by the cryp­to com­mu­ni­ty. Accord­ing to San­ti­ment, the pos­i­tive sen­ti­ment was 30.32, com­pared to the neg­a­tive sen­ti­ment, which remained at 20.67.

Due to this state, it was high­ly like­ly that XRP could be the sub­ject of accu­mu­la­tion by investors in the com­ing days.

XRP positive and negative sentiment

Source: San­ti­ment

Nev­er­the­less, its case with the SEC has had no sig­nif­i­cant update. Hence, the recent social spike had less to do with the dis­cus­sion around the token.



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