XRP Social Media Activity Surges Amidst Growing Bullish Sentiment
A recent report from on-chain analytics platform Santiment reveals a significant upswing in bullish sentiment towards XRP and Bitcoin. This follows the groundbreaking decision by the SEC to approve exchange-traded funds (ETFs) tracking the largest cryptocurrency after years of anticipation.
Following the SEC approval, discussions about ETFs spiked in the market, contributing to an overall atmosphere of excitement. Santiment highlights that sentiment towards large-cap assets remained extremely optimistic during this period, with considerable attention focused on Bitcoin and XRP following the ETF green light.
As a result, discussions and optimism surrounding major cryptocurrencies, particularly ETH and XRP, intensified after Bitcoin’s approval. Santiment notes that XRP sentiment and discussion rates reached their highest levels since May 2023, when social media buzz surrounding XRP escalated shortly before the ruling that classified XRP as not a security.
The XRP community continues to buzz with speculation regarding an XRP ETF, especially after BlackRock CEO Larry Fink’s cryptic response during a Fox Business interview. Fink refrained from discussing the possibility of an XRP ETF, further fueling speculation and excitement. Additionally, Steve McClurg, co-founder of Valkyrie Funds, hinted at the potential for Ethereum and XRP ETFs following Bitcoin’s ETF approval in a Bloomberg interview.
Crypto expert Lark Davis, known as Crypto Lark, believes that an XRP ETF could be on the horizon, given the significant milestone achieved in the Ripple SEC lawsuit that confirmed XRP’s non-security status.
Despite the growing hype around the potential XRP ETF, the current price of XRP ($0.57) has seen minimal reaction to the increased optimism. Nonetheless, XRP has demonstrated steady growth, bouncing back from recent lows of $0.554 on January 12th and reaching highs of $0.579 in today’s trading session, thus maintaining positive momentum.