Based on the data provided by Google Trends, the search volume of the third largest coin by market cap has reached the levels witnessed last time in December 2017.
Flare Networks Snapshot
There are some solid reasons which support the rising trend of XRP among traders and investors. For Spark Tokens’s airdrop, it is reported that the snapshot of Flare Networks is set for 12th December. Second, the Flare Networks snapshot has created buying pressure among people for XRP.
After a recent rush of investors, the price value of XRP has witnessed a high of $0.78, the two-year highest value. It is one of the top performers over the last few weeks as it made an unimaginable bullish jump.
The excitement of Flare Networks snapshot and rising Google Trend have jointly put a lot of buying sentiments among potential investors who want to invest in the remittance coin XRP. The fundamental factors can even push the value to positions witnessed in December 2017 and January 2018.
At press time, the third-largest coin is exchanging hands at $0.61 after an increase of 9.08% over the last 24-hours. Over a period of the last seven days, the cryptocurrency has also performed well as it is up 40.53% per the CoinMarketCap.
To date, Ripple has made a lot of partnerships with banks and institutions all over the world to lay down a perfect channel for payments across the borders. The company is utilizing blockchain technology to make cross border payments secure and safe.
Due to the strict regulatory environment around cryptocurrency, the company is also planning to shift its headquarters to another region but outside of the United States. Recently, it has opened a subsidiary in Dubai.
Besides XRP, other altcoins are also green as they have grown in value over the last two days. For instance, Ethereum has strived to move above $550 and has also become successful in maintaining its position above $550 at press time. After growth of 6.95% over the day, it is now trading at $553.50.
The investors are busy putting capital in the second biggest coin as the new update of the Ethereum network is coming. The first phase of the update Beacon Chain will go active by December 1 as the number of ETH coins needed for the staking contract has already been completed successfully.