, 2023-01-12 07:34:16,
- 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.
Read Ripple’s [XRP] Price Prediction 2023-2024
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.
📈 #XRPNetwork is +6.2% the past 24 hours while the majority of #crypto has declined today. In part, this is due to a major pump in address activity over the past week. We have also seen a pattern of big social dominance spikes leading to $XRP price gains. https://t.co/Pw4BIVCew7 pic.twitter.com/1c0QRWXUC7
— Santiment (@santimentfeed) January 11, 2023
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.
The current negative weighted sentiment implied that the crypto community still had a…
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