XRP Tweets Reaches All-Time High After 14% Increase in Price

July 11, 2020      Vandana Malik

XRP has recently seen a sudden surge in its price by over 14% after quite some time. It has been noticed that after this surge in price, there were more than 29,000 tweets about XRP. Bitinfocharts has released a data which shows that on 09 July, there were 29,143 tweets in which XRP was mentioned. The report states that for the first time, it has exceeded the tweets mentioning Bitcoin which was 5,000. Not only Bitcoin, but these tweets were also seven times more than the number of tweets mentioning Ethereum.

Surge in XRP tweets is due to price revival

It has been believed that this rapid increase in the number of XRP tweets might be due to price recovery. Even though, the price is still at very low as compared to its all-time high. From the starting of this month, the price suddenly bounced back. However, it slightly dropped again by a few percent. It has been seen that XRP is lacking behind when it comes to the market cap. While back in 2018, it was holding the second position when it comes to market cap. Currently, it is holding the fourth position with $460 million market cap among other cryptocurrencies.

Correlation between levels of discussion and price

Several analysts have been claiming since very long that there is some kind of correlation between the discussions of a coin and its price. With the increase in the number of tweets, this somewhere seems to hold some credibility as recently there was an increase in the price of the coin. This clearly indicated that there might be a huge level of excitement among the crypto community across the world related to XRP. This might be the reason for this sudden increase in the discussions about it along with an increase in price.

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Vandana Malik
Vandana Malik

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.