Americans Show Greater Interest in XRP Than Ethereum
Recent data from Google Trends reveals that residents in 48 out of the 50 states in the US are more interested in the XRP token compared to Ethereum, the second-largest cryptocurrency by market cap. States such as Nevada, Delaware, Montana, Louisiana, and Arizona show particularly high interest in XRP. This increased interest may be attributed to the token gaining regulatory clarity after Judge Analisa Torres ruled that XRP is not a security. When the SEC initially filed a lawsuit against Ripple in 2020, many US crypto exchanges delisted XRP, which affected its market share. However, following Judge Torres’ ruling, many exchanges have relisted XRP, allowing more US residents to invest in it.
Institutional Interest Expected to Rise
With Ripple’s legal battle against the SEC nearing its end, it is anticipated that institutional interest in XRP will increase in the US. Many financial firms refrained from partnering with Ripple due to the ongoing case. However, with the legal uncertainty fading away, more partnerships between Ripple and American companies are likely to emerge. These developments are expected to have a significant impact on the price of XRP. If major US banks adopt XRP for cross-border transactions, as Ripple proposes, the token’s trading volume could reach new heights. For now, Ripple and XRP will continue to expand their global presence.
XRP’s Popularity in Asia
XRP also enjoys a substantial following in Asia, particularly in Japan. The country has contributed significantly to XRP’s trading volume due to major financial institutions adopting Ripple’s payment service for cross-border transactions. The popularity of XRP can be attributed to its practical use within established financial systems. As Ripple continues to forge partnerships worldwide and gain regulatory clarity, the demand for XRP is expected to grow.
Hot Take: Americans Show Increasing Interest in XRP as Legal Clarity Boosts Adoption
The recent surge in interest among Americans for the XRP token, as reflected by Google Trends data, indicates a growing confidence in the cryptocurrency. The legal battle between Ripple and the SEC has cast a shadow over XRP’s future, causing many US exchanges to delist the token. However, with Judge Analisa Torres ruling that XRP is not a security, exchanges have relisted it, opening up investment opportunities for US residents. Furthermore, as Ripple’s legal uncertainties fade away and institutional interest rises, XRP’s price and adoption are poised for significant growth. The token’s popularity in Asia, especially Japan, further strengthens its position as a versatile and widely-used cryptocurrency.
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