Market Sentiment Toward Ripple (XRP) Spikes Amid Favorable Developments.
Investors have positive feelings toward XRP.
Leading cryptocurrency data analytics company Santiment has ranked Ripple (XRP) among the top digital currencies with “large positive sentiments.”
According to Santiment, investors’ sentiment toward Ripple has been incredibly positive in recent times, despite the company’s ongoing legal battle with the Securities and Exchange Commission (SEC).
Per the data from Santiment’s dashboard, Ripple currently enjoys a positive sentiment of 98%, which may likely propel the price of the crypto asset to soar.
? Among top market cap assets in #crypto, those with the largest positive sentiment right now are #BinanceCoin, #Pancakeswap, #Theta, and #XRPNetwork.
Monitor where the euphoria and fear lies & get your Sanbase PRO trial to check in on models like these! https://t.co/MxzNQuX54O pic.twitter.com/sXkOS7jjeo
— Santiment (@santimentfeed) August 25, 2022
Market sentiment is an indicator used to measure investors’ thoughts and feelings toward a project. While market sentiment does not represent a crypto asset’s fundamentals, it can contribute positively to the coin or token’s price.
Meanwhile, at the time of writing, XRP is currently trading at approximately $0.35, up 1.6% in the last 24 hours.
Ripple Scores Major Victories
The feat may not come as a surprise to many, given that a lot of people have been optimistic about Ripple in recent times. The Ripple vs. SEC lawsuit has gone relatively well, with the blockchain company scoring major victories in different motions.
The company recently recorded a massive victory against the SEC after the agency was ordered to surrender the drafts of William Hinman’s 2018 speech.
Interestingly, the SEC does not feel comfortable with the order. The Securities and Exchange Commission has objected to the order entirely, with many indicating that the agency may likely settle with Ripple instead of surrendering the document.
The settlement could prompt U.S.-based exchanges to re-list XRP on their various trading platforms. Thus, causing the value of XRP to skyrocket again.
Additionally, there has been a growing demand for Ripple’s payment solution, RippleNet. Several financial institutions have leveraged the solution for cross-border settlements, and it is expected that more payment companies will likely join the Ripple ecosystem soon.
In less than 24 hours, a new payment corridor was opened in the United Arab Emirates based on ripple, while Cross-border Settlements From Japan to the Philippines were also launched based on Ripple Payment Solution.
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Source: https://thecryptobasic.com/2022/08/25/ripple-xrp-leads-top-market-assets-in-positive-sentiments-amid-promising-developments/?utm_source=rss&utm_medium=rss&utm_campaign=ripple-xrp-leads-top-market-assets-in-positive-sentiments-amid-promising-developments