The public’s interest in XRP has decreased, but some market analysts believe this might be a buying opportunity.
Google Trends reports that since its high on July 13, search interest for XRP has decreased, falling to a score of 7 internationally and a greater dip to 5 in the US as of September 6.
Following a split decision by the U.S. District Court for the Southern District of New York on July 13, which found that institutional sales of Ripple’s XRP tokens did violate federal securities laws, the public’s interest in these transactions has decreased.
Following the decision, XRP immediately surged to almost $0.80, but has subsequently dropped to $0.505287, according to statistics from CoinGecko.
A buying opportunity?
Investors shouldn’t necessarily be alarmed by the decline in search interest.
According to some analysts, a decline in search interest might be a sign that the digital asset is not as pricey because there is no longer any “excessive exuberance.” As they say, “Buy when it’s boring, sell when it’s not,” and other market watchers on social media have repeated this idea.
According to the most recent CoinGecko statistics, XRP now has a market worth of $26.8 billion. After the court’s decision, the contentious token has essentially lost all of its value.
Regulatory clarity
Despite the drop in value and attention from the general public, XRP currently has a significant edge thanks to U.S. regulatory certainty. In the United States, XRP is now the only digital currency having regulatory certainty (apart from Bitcoin), according to Ripple CTO David Schwartz, who was speaking on Day 1 of the #ApexDevSummit during The Future Outlook of the #XRPL. This legal clarification may provide a more secure environment for long-term investors and may have a big impact on price movement in the future.
