Crypto

XRP Becomes Coin of The Day Leading Social & Market Activity

06/20/2023
Bitcoin Ethereum News

XRP ranks as LunarCrush Coin of the Day. 

Leading cryptocurrency analytics platform, LunarCrush has selected XRP as its “Coin of the Day.” LunarCrush noted that XRP was automatically selected based on relative leading social and market activity over time.

 

XRP Data on LunarCrush 

According to data from LunarCrush, XRP has a Galaxy Score of 47%. Notably, LunarCrush’s Galaxy score is derived following an analysis of a coin’s correlation score, average sentiment, price score, and social impact score. 

Furthermore, XRP ranked as the 10th crypto on LunarCrush’s AltRank, which consists of 4,481 mainstream cryptocurrencies. The LunarCrush Altrank score takes into consideration a coin’s price change, social volume, trading volume, and social score rank over the past 24 hours. 

XRP Social Activity Spikes 

Interestingly, XRP recorded a spike in social activity, as reported by LunarCrush. Data from LunarCrush shows that XRP had a social engagement of 19.6 million, with social mentions of 2.02K recorded over the past 24 hours. 

Similarly, LunarCrush data show that XRP recorded a social dominance of 1.83% over the past 24 hours. In the past day, XRP has been included in 1.91K Twitter posts, with a spam volume of 230 posts recorded within the past 24 hours. 

XRP Market Activity 

The development comes a few hours after XRP broke a persistent downward trendline that has lingered for 777 days. Consequently, Dark Defender, the analyst who brought the community’s attention to the feat, said XRP is on track to rally up to $3.3, representing a 576% surge. 

It is worth noting that XRP was changing hands at around $0.488 in the hours leading up to press time. The crypto asset is still the sixth-largest cryptocurrency, with a market cap of $25.39 billion. 

SEC Vs. Ripple Lawsuit Almost Over?

Meanwhile, it is not surprising to see XRP rank as LunarCrush’s “Coin of the Day” by social and market activity. The cryptocurrency has garnered much attention over the past week as the lawsuit between the SEC and Ripple approaches its end. 

Top crypto and legal experts are expecting the ruling to come soon. Interestingly, former SEC director Marc Fagel predicted on June 15 that the multi-year legal battle would end within days. 

However, Judge Analisa Torres, the presiding judge of the lawsuit, has yet to issue the much-anticipated summary judgment decision to put an end to the Ripple case.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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