XRP records solid investor interest despite price declines – data

July 29, 2023 07:00 PM AEST | By Invezz

XRP records solid investor interest despite price declines – data — Image source: Invezz

XRP’s solid investor interest

Kaiko data indicates that the community is trading XRP in a healthy atmosphere. Volume-to-open interest ratio remains above the median value. The significant margin shows remarkable trader and investor interest and solid liquidity.

Exchanges can also use this metric to gauge trading activity. A high-interest index confirms more buyers and sellers ready to trade, translating to speculative interest. Meanwhile, a satisfactory volume-to-open interest ratio might signal traders to execute their positions (trade).

Ripple’s lucrative social presence

Ripple exhibits an attractive social presence, confirming massive investors and supporters. The community has followed the altcoin since its latest legal victory, with many awaiting prices to skyrocket.

Musk effect on XRP?

Dogecoin lover Elon Musk has introduced a new logo for X, formerly Twitter. Ripple enthusiasts reacted to the update, excited about the resemblance between XRP and X logos.

#XRP 👀 pic.twitter.com/A8CKKi4Utx
— XRPcryptowolf (@XRPcryptowolf) July 29, 2023

As seen here, X plans to integrate digital payments on the site. The platform introduced ad revenue sharing for global creators to monetize their activities when using the social media platform. The community awaits the social media network to introduce crypto.

The post XRP records solid investor interest despite price declines – data appeared first on Invezz.

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