Due to XRP’s soaring price over the past weekend, XRP has outperformed Ethereum in Google search trends.
Ripple tops list on Google queries
Ripple’s price pump has led to a rise in search results about the cross-border payment token. Google queries from users are up 650%, asking, “Why is XRP increasing?” Via Google Trends data.
Search engine data also shows that search queries related to XRP have surpassed those related to Ethereum (ETH) as of April 10 and have maintained high levels for the past two days.
The country with the fastest increase in search volume for XRP is Japan, where the token has traditionally enjoyed a high reputation, partly due to Ripple’s close relationships with Japanese securities and crypto giant SBI.
XRP price enjoyed weekend pump
XRP skyrocketed over the weekend and is currently correcting its profits. At 08:33 UTC, the price was trading at $1.38, a drop of nearly 4% in one day and bringing weekly earnings to less than 118%. It also rose 213% in a month.
The reason for this pump is the recent legal victory attained by the heads of Ripple in their protracted battle with the US Securities and Exchange Commission. A Judge had last week granted the demands of Ripple chiefs Brad Garlinghouse and COO Chris Larsen to keep their personal financial records confidential.
Larsen and Garlinghouse alleged regulators had asked how much money had been “spent on groceries” over the past eight years. The details they claimed had nothing to do with the case, mainly because the US Security Exchange Commission (SEC) had accused Ripple of being associated with XRP tokens as an unregistered security.
Senior lawyers said the SEC is trying “to excel in a big way” and is making an effort to get records public. Legal experts believe that Ripple has sufficient resources to fight the SEC via the appeal courts if necessary. It is likely that a negotiated solution will most likely be the outcome similarly to how Tether negotiated with the office of the New York Attorney General. in February.
This sort of outcome allows the SEC to save face and allow Ripple to do so, despite the financial cost. XRP holders will be hoping for a positive outcome in the coming weeks.