- ETH and XRP saw double-digit gains.
- XRP was in an uptrend at the time of writing, while ETH remained stuck in a downtrend.
After a turbulent week marked by several sell-offs, Ethereum’s value has fallen. [ETH] And ripple [XRP] They have emerged as major assets that have seen significant recoveries.
XRP has seen more notable price movement, largely due to recent developments affecting the asset.
Ripple and Ethereum are seeing positive movements.
Posted by Santiment On August 9, reports revealed that XRP and Ethereum saw significant increases in both price and social volume over the past 24 hours.
This increase is particularly notable, considering the recent declines that both XRP and ETH have experienced in the past few weeks.
How Social Media Moved for Ethereum and Ripple
Data from Santiment indicates notable movements in the social indicators of Ethereum and Ripple, with XRP showing the most significant changes.
On August 8, XRP’s social trading volume surged to 4.5%, up from its previous peak of around 2.95%, marking its highest social trading volume in months.
Additionally, XRP’s social dominance reached its highest point in nearly a year on August 8, rising to 1,006.
Source: Santiment
In contrast, while Ethereum has not seen the same dramatic rises as XRP, it is still showing positive trends.
Ethereum’s social trading volume briefly spiked above 10% on August 8 and has maintained that level despite the decline. Its social dominance has also remained strong, holding steady at over 2,000.
XRP and ETH see double-digit increases
Ripple price trend analysis indicates an increase of more than 30% over the past four days.
According to AMBCrypto, a major surge occurred on August 7, when the price rose by more than 18%, largely due to the settlement of its long-running legal battle with the Securities and Exchange Commission.
Furthermore, by the close of trading on August 8, Ripple had gained 2.70%, maintaining a price of around $0.60, despite a slight decline of over 2% at the time of writing.
Source: TradignView
Read about Ethereum [ETH] Price forecast 2024-2025
In addition, Ethereum also saw a huge surge, with its price jumping by more than 18% on August 8. With this, its price rose from around $2,300 to over $2,600.
As of the last update, Ethereum was trading at around $2,672, showing a slight decrease of less than 1% but still strong.
Source: TradingView