Google search volumes show that investors are keeping a close eye on the latest developments in the altcoin market. Between July 9-15, the trend towards cryptocurrencies has significantly strengthened.
Google search volume reveals growing interest for this altcoin
On July 13, Ripple took a partial victory in the SEC lawsuit, giving direction to the market. The XRP price gained over 90% within hours after the expected lawsuit outcome. Specifically, Google searches for the altcoin reflect this trend, which has risen significantly over the past 7 days as the value of XRP rises.
Specifically, Google search interest for the keyword ‘how to buy XRP’ hit a one-year high of ‘100 points’. Thus, it reached its maximum search interest in the period from July 9 to July 15.
Similarly, as can be seen from the chart above, the number of searches for the keyword ‘How to buy Ripple’ also hit a one-year high. On a regional basis, the country with the most interest in buying XRP is Singapore, followed by Hong Kong, Slovakia, Finland and Denmark.
Meanwhile, countries exploring how to buy Ripple include Lebanon, North Macedonia, Trinidad & Tobago, Croatia and Lithuania.
Why is interest in XRP increasing?
The chart above shows an overall rise in the number of Google searches for XRP in 2023. However, the most significant rise occurred last week, and this was no coincidence. Notably, the increased interest in the cryptocurrency has coincided with notable price spikes sparked by a recent US court ruling that concluded that Ripple did not violate securities laws through the sale of XRP on public exchanges.
The decision is a landmark legal win for the blockchain firm, which has been battling the securities regulator in court for nearly three years.
We said in Dec 2020 that we were on the right side of the law, and will be on the right side of history. Thankful to everyone who helped us get to today’s decision – one that is for all crypto innovation in the US. More to come.
— Brad Garlinghouse (@bgarlinghouse) July 13, 2023
More positive news may come from XRP
The ongoing developments this week were part of the reason for the optimism behind XRP’s future. The US congress is reportedly about to make important decisions regarding cryptocurrencies. Officials familiar with the matter claim that the final decision will have a major impact on tax policy.
#XRPCommunity #XRP This week in Congress and crypto from @RonwHammond, who says "the Ripple case has made a huge impact on the politics of the bills." https://t.co/mJZh5B85Vw
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) July 18, 2023
The outcome of July 13’s lawsuit puts regulators in a position to make clearer regulatory decisions. This is why there is so much optimism about regulatory clarity when it comes to crypto. Ripple is profiting from the latest developments by reigniting the debate over instant global payment deals.
If the momentum continues, it will be easier to secure collaborations, especially with traditional financial institutions. The network plans to expand its reach into other rapidly growing areas. Its latest announcement on the Metaverse proves to be a testament to Ripple’s pursuits.
We are excited to support the @futureverse vision!
⬇️⬇️⬇️ https://t.co/UpBwGwAgtg— Ripple (@Ripple) July 18, 2023
Note, though, that the affirmative case is pending soon, with the SEC floundering with the opposition. cryptocoin.comIn this article, we have included the statements of former SEC executive John Stark.
