XRP’s Google search interest is back to early December 2017 levels, there are three main reasons
As the price of XRP hit $0.78, the popularity of the keyword on Google Trends exploded to levels unseen since 2017. The chart below further demonstrates this fact.
The popularity of XRP on Google Trends. Source: Google Trends
There are three reasons for searching XRP on Google
Flare Networks Snapshot
The Flare Networks snapshot scheduled for the 12th of December has reignited interest in remittance coin as investors rush to own XRP to capitalize on the eventual airdrop of Spark Tokens. Airdropped tokens are usually viewed as free assets thus providing an incentive for investors to own XRP.
Popular keywords like Black Friday
Santiment, an on-chain analysis firm reported that XRP remained a polarizing keyword even with popular keywords like Black Friday.
🦃 This Thanksgiving follows the largest dip day in two and a half months, and #crypto social media is trending with subjects like #buythedip and #blackfridaysale. $XRP is still polarizing like it has been all week, as confidence is wavering slightly. https://t.co/LVePKphGcR pic.twitter.com/UYKmdiwwJd
— Santiment (@santimentfeed) November 26, 2020
Altcoins, like XRP, saw a more intense price movement generally due to lower liquidity. The trend of altcoins surging rapidly following a Bitcoin uptrend is also reminiscent of previous cycles.
XRP Retest $0.78
This fact coupled with an increase in Google search interest in XRP could result in a FOMO scenario that could propel the remittance coin to heights last seen in December 2017 and January 2018.
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