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September 27, 2020
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XRP reaches new record of mentions on Twitter and surpasses Bitcoin

The number of XRP mentions on twitter reached a record high yesterday, drowning out conversations about Bitcoin and Ethereum in the process.

Yesterday, on Twitter, XRP received more than 29,000 mentions, setting a new historic high.

According to data from Bitinfocharts, there were a total of 29,143 tweets that mentioned XRP. For the first time in history, this topped the number of Bitcoin tweets by 5,000. The number was also seven times greater than the number of tweets about Ethereum.

What makes the disparity between the number of tweets about XRP compared to Bitcoin and Ethereum absurd is the difference between their values. The market value of XRP is just a third of Ethereum and a tenth of Bitcoin.

The increase in the number of tweets is probably being led by a small revival in the currency’s price. Although it is a far cry from its historic high, which would be above $ 3, the price of XRP has returned from $ 0.184 to $ 0.209 since the beginning of the month. Although, yesterday, it retreated slightly, to $ 0.197.

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Despite the small leap, XRP is still falling in the cryptocurrency ranking. Although he was briefly in second place in September 2018, he remained in third place for a while before being overtaken by stablecoin, Tether (USDT). Now XRP is in fourth place, with a market value lower than that of Theter.

For a long time, analysts maintained a correlation between levels of discussion about a currency and its price – in the hope of finding the Holy Grail as an initial trading indicator. But at the same time, the volumes of mentions on social media can be faked, and XRP bots are a well-known phenomenon.

Or perhaps, there are traces of excitement in the crypto community once again.

Source: decrypt

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