Key Takeaways
- XRP’s social volume surpasses 2018 metrics, as on-chain data suggests that the price could be gearing up for a mega rally.
- Bulls and whales favor XRP price action following recent developments around its U.S. SEC lawsuit resolution.
- Crypto experts and investors believe the price of XRP has the potential to reach its short-term high of $5.
The breaking news of the U.S. SEC (Security and Exchange Commission) agreeing to drop the 6-year Ripple (XRP) vs. SEC lawsuit has generated a lot of buzz in the crypto space. This has also positively impacted the price of XRP, as the price rallied from a region of $2 to a high of $2.55, leading to much speculation that the price is preparing for a major rally in the coming weeks.
The recent buzz for the XRP token and its ecosystem has been missing for years now. It was last experienced in 2018 when the price of XRP in the bull market gained a massive price rally. This led to much social engagement as the media discussed the potential of XRP before its unfortunate incident with the U.S. SEC.
Ripple’s (XRP) Social Volume Impact
In 2018, XRP’s social volume spike was due to its price rally of over 62%, sparking much bullish price action and optimism among crypto enthusiasts. Such a spark has also been seen in recent social volume, with an over 250% rise after its U.S. SEC case resolution.
Similar price metrics are beginning to resurface once more, leading to a 14% jump in XRP’s price following its resolution with the U.S. SEC authority after a long-standing lawsuit that has impacted its price for over five years now. The media and crypto experts are hugely backing the price of XRP to become the better performer in 2025 following its recent victory.
Top crypto expert and analyst Ali Martinez has also taken to his X account to post regarding the social volume XRP is experiencing in the last few hours of the news, with on-chain data from Santiment suggesting increasing social volume that could eventually be translated into demand for the crypto asset. Will recent data indicating over 600% whale activity and investors’ confidence hit new highs for XRP?
Will this social volume, which includes an over 250% trading volume increase, whale activities, XRP ETF (Exchange-traded fund) speculation, and renewed confidence in the XRP price, impact its price towards a high of $50?
XRP Technical Analysis
Source – 1D XRP Price Chart From TradingView
The price of XRP currently trades above its 50-day and 200-day EMAs (Exponential Moving Averages) for the first time in weeks after suffering a price decline from a high of $3 to a region of $2, with bears looking to take advantage of the price.
The price currently trading above its $2.5 resistance is a good sign for bulls, as it aims to rally to higher prices. Speculation suggests the price could aim around $5. Current market sentiment for XRP is bullish, but the general crypto market needs to show strong bullish signs.
