XRP – In spite of experiencing a slump in price today, in the wake of registering more than 100% increase in value over the last one week, the coin has drawn a great deal of media attention and investors’ interest over the last 10 days.
On September 12, XRP was in the midst of a generally clear descending trend, one that saw the coin flip to $0.25 and almost lost all of the gains of the bullish run that saw the cryptocurrency hit a historical high of around $3.80 on January. Within a span of two days, the digital money increased in value by more than 100 percent, reaching $0.70 before tumbling to around $0.45, according to CoinMarketCap. While the last one day has seen XRP depreciating in value, the coin has created a sudden mainstream interest in it, partly thanks to the endeavors of XRP’s former parent company Ripple.
Ripple, the blockchain startup behind the hyped XRP token, has been at the frontline in paving the road for blockchain adoption. xRapid – the payment protocol that uses XRP to facilitate highly efficient, quick, scalable, and reliable cross-border payments across the world – is expected to launch as early as mid-October this year. XRP has now confirmed through Google trends that the digital coin is indeed growing in popularity.
As indicated by the Google Trends online tool, which takes into consideration keyword terms by search volume, XRP keyword search volume has not just dramatically increased over the previous week, but is also maintaining distance from Ripple Lab – the alleged company behind the coin.
While Ripple is the major holder of XRP, with more than 60 billion coins concealed in escrow, the company has attempted several times to deny any association with the cryptocurrency. The company has, however, continued to make and market products that utilize XRP tokens such as xRapid protocol and xCurrent.