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<\/p>\n
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- XRP’s social dominance rose, indicating signs of an upcoming recovery.<\/em><\/li>\n
- Other on-chain data revealed that the price rise may need more than a social hike.<\/em><\/li>\n<\/ul>\n
Ripple [XRP]<\/span><\/a>, has been mired in a prolonged period of decline, and unable to recover substantially from the fall. However, emerging market trends suggest that XRP may be on the cusp of overturning its long-standing nosedive.<\/span><\/p>\n
How much are <\/span>1,10,100 XRPs worth today<\/span><\/a>,<\/span><\/p>\n
For one, Santiment, the on-chain analytical platform, reported that XRP’s social dominance increased significantly in the early hours of 10 July.<\/span><\/p>\n
Taking out the FUD<\/b><\/h4>\n
Santiment, noted that an increase in discussion around an asset, coupled with a falling price historically points to a possible price recovery. Lately, XRP has experienced a great amount of Fear, Uncertainty, and Doubt (FUD).<\/span><\/p>\n
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#XRPNetwork<\/a> has seen an uptick in discussion in Monday’s early hours. Generally, when traders are increasing discussions of an asset while its price has been declining, it increases the probability of a price rise to cancel out. #fud<\/a> & greedy #shorts<\/a>, https:\/\/t.co\/nMgmfe25Tw<\/a> pic.twitter.com\/cc2REyl2pQ<\/a><\/p>\n
\u2014 Santiment (@santimentfeed) July 10, 2023<\/a><\/p>\n<\/blockquote>\n
And this could be linked to the inconsistencies in the final outcome of Ripple’s <\/span>regulatory<\/span><\/a> problems with the sec. At one point, the XRP community was almost sure that a judgment was near and would be in Ripple’s favor.<\/span><\/p>\n
This resulted in a rally for the coin. However, as time passed, it became glaring that the outcome remained uncertain. As a result, XRP’s price action drifted away from its uptrend. However, traders may need to lower hopes of a quick <\/span>rebound<\/span><\/a>,<\/span><\/p>\n
One reason for this is the XRP volume. At the time of writing, XRP’s volume was 578.54 million. Despite there being an increase from the previous day, it did not seem solid enough to push for an uptrend.<\/span><\/p>\n
- Other on-chain data revealed that the price rise may need more than a social hike.<\/em><\/li>\n<\/ul>\n
![\"XRP](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/XRP-XRP-12.23.29-10-Jul-2023.png\")
![\"XRP](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/XRP-XRP-12.35.11-10-Jul-2023.png\"\/)
![\"XRP](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/XRP-XRP-12.35.11-10-Jul-2023.png\")