Public interest in XRP has seen a dip, according to Google Trends, but some experts in the market believe this might be an indication for a potential investment opportunity.
As per Google Trends data, the worldwide search interest in XRP has been on a decline since reaching its apex on July 13, currently scoring 7. The drop is even more pronounced in the U.S., where the score has sunk to 5 as of September 6.
This slide in public curiosity is a result of the mixed verdict delivered by the U.S. District Court of the Southern District of New York on July 13. The court opined that XRP’s token sales affiliated with Ripple on exchange platforms did not infringe upon federal securities regulations; however, its institutional sales did. Consequently, the price of XRP experienced a surge, crossing $0.80 after the verdict but has since retracted to $0.505287, as reflected by CoinGecko.
Could Diminished Interest Spell Buying Time?
The waning search interest in XRP might not necessarily be alarming for potential investors. Some financial analysts believe that the dip in search interest may suggest that the digital currency isn’t overvalued due to lack of excessive public hype. This sentiment resonates with the age-old investment maxim, “Buy when the streets are quiet, sell when they’re bustling.” Many have taken to social platforms to echo similar views.
The current market valuation of XRP, as per the latest from CoinGecko, stands at $26.8 billion. After the court’s ruling, the digital token, amidst controversies, has virtually wiped out its previous gains.
The Silver Lining: Regulatory Clarity
Despite the setbacks in terms of price and dwindling public interest, XRP now stands on the firm ground of regulatory clarity in the U.S. Ripple CTO, David Schwartz, pointed out during The Future Outlook of the #XRPL at the #ApexDevSummit, “Bar Bitcoin, XRP stands as the sole digital currency with clear regulatory guidelines in the U.S.” Such clarity paves the way for a robust framework for long-term investors and could play a pivotal role in shaping XRP’s future market dynamics.
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