XRP’s declining public interest has caught the attention of market experts, who see it as a potential buying signal.
Google Trends data reveals that search interest in XRP has steadily decreased since its peak on July 13, with a global score of 7 and an even sharper drop to 5 in the United States as of September 6. This decline in public interest coincided with a mixed ruling by the U.S. District Court of the Southern District of New York on July 13. The ruling indicated that while XRP token sales on exchanges affiliated with Ripple didn’t violate federal securities laws, its institutional sales did.
After initially surging to over $0.80 following the ruling, XRP’s price has since retreated to $0.505287, as per CoinGecko data. Some market analysts view this decline in public interest as a potential buying opportunity. They argue that reduced search interest might suggest that XRP is trading at a more reasonable valuation without excessive speculation. This sentiment aligns with the investment principle of “Buy when it’s boring, sell when it’s not,” echoed by several market observers on social media.
Despite the drop in price and public interest, XRP now enjoys a distinct advantage: regulatory clarity in the United States. Ripple CTO David Schwartz highlighted this during a recent event, stating that, “Other than Bitcoin, XRP is now the only digital asset with regulatory clarity in the United States.” This regulatory clarity could provide a more stable environment for long-term investors and may play a significant role in shaping future price movements.