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Despite the ongoing legal battle with the US Securities and Exchange Commission (SEC), Ripple’s altcoin XRP continues to maintain its position as one of the most popular cryptocurrencies. Last year, XRP stood out due to significant interest from investors, despite the unresolved case, following Ripple’s three major partial legal victories against the SEC.
Altcoin King Surpasses Ethereum in Google Searches
Recent data indicates that XRP surpassed Ethereum (ETH) in Google searches last month in certain countries. Countries such as Japan, the Philippines, and South Africa are among the top three where XRP searches overshadowed those for Ethereum. Additionally, XRP’s popularity has been steadily increasing in countries like Finland, Malaysia, and Indonesia.
Ethereum continues to be more popular in leading European economies such as France, Sweden, Spain, Germany, and Switzerland. This highlights the varying preferences and interests of cryptocurrency enthusiasts in different regions.
In the recent past, Solana (SOL) briefly surpassed Ethereum in Google searches, coinciding with SOL’s rapid price increase of approximately one thousand percent throughout 2023.
Two Factors That Could Lead to a Major Price Increase for XRP
Many analysts believe that if XRP experiences a significant price increase in the coming months, its popularity could grow even further. Various factors and upcoming developments suggest that such a scenario is plausible. One of the key factors that could drive this scenario is the outcome of the Ripple vs. SEC lawsuit. The major hearing in the case will take place on April 23. A decision in favor of Ripple could excite investors and potentially trigger a bull run not only for XRP but also for the broader cryptocurrency market.
Conversely, a negative outcome could hinder the progress of both Ripple and the cryptocurrency market. Another factor to watch closely is the 4th Bitcoin block reward halving, which occurs approximately every four years and reduces the rate of new BTC issuance. Historically, strong bull runs have followed Bitcoin’s block reward halvings, and the 4th block reward halving could positively impact the price of XRP along with other altcoins.
