JAKARTA Ripple's crypto asset (XRP) has been the center of attention in the past week. How not, XRP went up at a time when the price of Bitcoin (BTC) experienced a significant decline. According to Coingecko data, XRP skyrocketed by more than 27 percent in one week, while BTC actually fell 4.7 percent. At the time of writing, XRP is trading at a price of Rp7,300.
The increase in XRP has received significant attention among the crypto community and social media users. This shows XRP's success in attracting stakeholders.
This price increase has put XRP in front of other major cryptocurrencies such as Bitcoin, Cardano, BNB, and Dogecoin. However, not only does the price of XRP Ripple increase. This increase was triggered by a plan to announce court results related to the case of the XRP vs SEC (US Securities and Exchange Commission) which will be informed this week.
According to data provided by LunarCrush on Saturday, March 25, there is a correlation between the price performance of XRP Ripple and its social involvement. XRP Ripple's social involvement increased by 105.9 percent to 245.57 million since last Monday, and its number of mentions increased 26.4 percent to 80,720 in the same period.
According to a CryptoGlobe report, XRP Ripple has more than 3,440 unique social contributors per hour. Many people within the XRP Ripple community are actively promoting the token on social media, believing that its parent company, Ripple, will win its case against the US Securities and Exchange Commission (SEC). Recently, Ripple filed a fair defense for its case, referring to a decision in the Voyager bankruptcy case.
Messari founder Ryan Selkis recently tweeted that he considers the SEC case against XRP Ripple an exaggeration. He went on to state that the project met market needs, as evidenced by the increasing number of accounts on XRP Ledger.
XRP Scan data shows that XRPL processes an average of more than 1 million transactions in the last seven days, with an average network of more than 2,000 new addresses daily.
Additional information, the Ripple vs SEC case has been going on for more than two years. The feud began in December 2020 when Ripple planned to go public, but US regulator SEC dragged Ripple to court on charges of unregistered securities sale. Ripple has firmly denied the allegations and counterattacked the SEC and dismantled Ethereum's side's Hinman documents.
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