CNBC host Jim Cramer used the words “a giant swindler” for this altcoin and predicted that the crypto would fall to $ 0.
Altcoin price recovers after explanations
After Cramer called XRP a ‘giant scammer’, the token’s investor sentiment has seen a significant improvement. On-chain and metrics firm Santiment Feed highlighted that XRP is performing strong despite a weak broad market.
The address activity and social dominance of the token has gradually increased since Cramer called it a ‘giant scammer’. According to Santiment, XRP has approximately 136,190 daily active user addresses, with a 1.15% increase in social dominance.
📈 #XRPNetwork is +6.2% the past 24 hours while the majority of #crypto has declined today. In part, this is due to a major pump in address activity over the past week. We have also seen a pattern of big social dominance spikes leading to $XRP price gains. https://t.co/Pw4BIVCew7 pic.twitter.com/1c0QRWXUC7
— Santiment (@santimentfeed) January 11, 2023
Also, XRP investment products saw nearly $3 million in institutional inflows in the first week of 2023. The inflow of funds into XRP comes at a time when leading cryptos are experiencing exits earlier in the week.
The CNBC host has remained a staunch critic of cryptocurrencies and regularly attacks leading Bitcoin and leading cryptos. However, Cramer predicted on Thursday that he believes the markets will recover in the coming months. Moreover, many of his predictions have turned out to be wrong over the years.
Ranked third by increasing trading volume on Binance
According to leading cryptocurrency market intelligence platform Santiment Feed, XRP saw a significant increase in value yesterday amid a weak market performance. In a tweet yesterday, Santiment stated that the price of XRP rose 6.2% and most cryptocurrencies fell.
The massive increase in the value of XRP was due to the increase in address activity over the past seven days. Santiment data shows that XRP has about 136.19k daily active addresses. It is worth noting that XRP trading volume continues to increase on various trading platforms, including Binance and KuCoin.
Earlier this week, XRP became the fifth cryptocurrency with the highest 24-hour trading volume on Binance. Interestingly, cryptocurrency users continued to show great interest in XRP. XRP is currently the third-highest volume in the last 24 hours on Binance. Binance users traded a staggering $91.89 million worth of XRP the other day.
It shows an increase in XRP volume over the past 24 hours. cryptocoin.comAs we mentioned, XRP has a 24-hour volume of $ 1.41 billion, an increase of 40.36% compared to its previous record.
XRP records positive thoughts
Santiment noted that the social dominance of XRP contributed to the recent price increase. “We saw a massive pattern of social dominance spikes leading to $XRP price spikes,” he said. Santiment data shows that the sixth largest cryptocurrency by market cap has a social dominance of 1.15%.
It is worth noting that XRP is currently one of the most talked about crypto assets on various social media platforms, including Twitter. Crypto enthusiasts are debating how the outcome of the lawsuit between Ripple and the SEC will affect the XRP price. A Ripple gain is expected to increase the price of XRP. But a different outcome could cause the value of the crypto-asset to plummet. Meanwhile, this altcoin is currently changing hands at $0.3745, up 4% in the last 24 hours.
