XRP social dominance spikes, hinting on potential price recovery
XRP (XRP) has observed an uptick in social dominance amid the prevailing bearish condition plaguing the asset. Crypto analytical resource Santiment suggests that the new XRP trend might indicate increasing chances of a potential price recovery. Santiment confirmed that XRP started witnessing an uptick in social activity in the early hours of today. Data reveals that this morning the asset observed its most significant spike in social dominance since May. ️ #XRPNetwork has seen an uptick in discussion in Monday's early hours. Generally, when traders are increasing discussions of an asset while its price has been declining, it increases the probability of a price rise to cancel out #FUD & greedy #shorts. https://t.co/nMgmfe25Tw pic.twitter.com/cc2REyl2pQ — Santiment (@santimentfeed) July 10, 2023 Notably, XRP’s social volume had continued to suffer since June, particularly due to its price consolidation. Following the drop from the $0.50 psychological suppor...