XRP Catches the Attention of Americans đ
Recent data from Google Trends reveals that citizens in 48 out of 50 states in the US are more interested in Rippleâs cryptocurrency (XRP) than Ethereum, the second-largest cryptocurrency by market cap.
Residents of US states such as Nevada, Delaware, Montana, Louisiana, and Arizona are dominating this new wave of interest in XRP. But what is driving this newfound enthusiasm for XRP in the US?
Bitcoinist quotes Rippleâs Chief Legal Officer, Stuart Alderoty, as saying that XRP began to occupy a unique place in the hearts of Americans following Rippleâs legal victory against the United States Securities and Exchange Commission (SEC).
Since then, XRP has gained more attention from American investors, even surpassing Ethereum in popularity in most states.
One of the factors that has contributed greatly to the surge in interest in XRP is its improving regulatory status.
When Judge Analisa Torres ruled that XRP is not a security, it marked a turning point for the token. In 2020, when the SEC initiated a lawsuit against Ripple, many US crypto exchanges decided to exclude XRP. This action had a significant impact on the tokenâs market share in the country.
However, Judge Torresâ ruling paved the way for many exchanges to exclude XRP, allowing Americans to once again invest in the digital asset. With clear regulation on its side, XRP has regained its traction in the US market.
This development could potentially push XRPâs trading volume to new heights.
XRPâs popularity is not limited to the United States alone. The crypto has enjoyed a significant following in Asia, particularly in Japan, where it contributes significantly to the tokenâs trading volume.
This popularity can be attributed to the adoption by major financial institutions of Rippleâs payment service, which uses XRP to facilitate cross-border transactions.
