Ripple's native cryptocurrency, XRP, has gained all the attention, gaining 45% since March 18 as the general market sits.
The vast majority of investors and crypto experts attribute the rise to a possible decision pricing out of the SEC lawsuit. While the general expectation is that Ripple will win the legal battle, on-chain data reflects the general negative perception about XRP.
Sensitivity Turned Negative!
According to data shared by blockchain follower Santiment, Ripple's "Weighted Sentiment" metric remains on the negative side with -0.60. Although the metric in question remained slightly positive last week, it did not provide continuity.
Sensitivity data measured by the on-chain tracker measures the perception of a crypto asset on social media. If the sentiment remains negative, it is assumed that the sensational rise expectation in the asset in question decreases. Some investors read negative data as a "buying opportunity".
XRP Network Keeps Growing!
On-chain data revealed a correlation between the rise in the XRP price and the network growth rate. According to Santiment, while the number of users joining the Ripple network was 1,000 on March 5, this metric has increased by 300% to 3,360 today.
$XRP is currently trading at $0.535.
