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Quick grip:
- XRP’s Google search interest has returned to the levels of early December 2017
- Interest in the remittance of the coin was mainly due to the snapshot from Flare Networks
- The snapshot will take place on December 12 and will be supported by several major exchanges
- FOMO could kick off the snapshot by pushing XRP above the recent high of $ 0.78
According to Google Trends, search interest in XRP’s remittance coin globally has increased to levels last seen in December 2017. The chart below, courtesy of Google, further demonstrates this fact.
Snapshot of Flare Networks – Why XRP is Trending
The XRP trend in Google is attributed to three facts. First, the Flare Networks snapshot scheduled for December 12 has reignited interest in currency remittances as investors rush to own XRP to capitalize on the eventual release of Spark tokens. Tokens distributed via airdropped are generally seen as free assets, thus providing an incentive for investors to own XRP.
Second, the interest in XRP due to the Flare Networks snapshot led to the purchase of demand for the digital asset. This question has pushed XRP’s value higher in the cryptocurrency markets. XRP recently recorded a 2-year high of $ 0.78, thus sparking the curiosity of traders and investors who want to enter the possible parabolic rush that leads to the snapshot of Flare Networks.
Third, cryptocurrency analyst Timothy Peterson earlier this month predicted that XRP would begin a bullish climb that will result in the digital asset eclipsing Bitcoin in earnings next year. Peterson’s prediction was reiterated by Crypto analyst MagicPoopCannon who accurately predicted XRP by testing the $ 0.80 price area.
XRP could retest $ 0.78 and push higher before December 12
As mentioned above, the Flare Networks snapshot is December 12th. This gives XRP around two weeks to capitalize on the hype surrounding the event.
This fact, coupled with an increase in Google’s search interest in XRP, could lead to a FOMO scenario that could push the remittance coin to heights last seen in December 2017 and January 2018.
Bitcoin could ruin the party for XRP
As with all altcoins, XRP traders and investors are reminded that Bitcoin must remain calm between now and December 12 for the remittance coin to thrive. Therefore, it is highly advised to keep an eye on any sudden moves in either direction by Bitcoin.
