The public’s interest in XRP has decreased, but some market experts see this as a possible buying signal. According to Google Developments, since reaching its peak on July 13, search interest in XRP has decreased, falling to a rating of seven internationally and a much steeper dip to five in the US as of September 6.
This drop in interest by the general public comes in response to a joint decision rendered by the U.S. District Court for the Southern District of New York on July 13 that found that while institutional sales of the XRP token, which Ripple is affiliated with, did violate federal securities laws, their exchange-based sales did not.
According to data from CoinGecko, XRP has since dropped to $0.505287 after initially rising to nearly $0.80 as a result of the decision.
A substitute for shopping?
For traders, the decline in search interest is not necessarily a red flag. According to some analysts, a drop in search interest may indicate that the digital asset is considerably less overvalued due to the lack of “extreme exuberance.” Because there is a proverb that goes, “Purchase when it is boring, promote when it is not,” which was echoed by several market watchers on social media.
According to the most recent CoinGecko data, XRP currently has a market worth of $26.8 billion. The contentious token has almost completely lost all of its value in the wake of the court decision.
Readability of regulations
Despite the drop in popularity and value, XRP now has one distinct advantage: regulatory readability in the US. In America, XRP is now the only digital asset with regulatory readability (apart from Bitcoin), according to Ripple CTO David Schwartz, who was speaking on Day 1 of the #ApexDevSummit during The Future Outlook of the #XRPL. This legal clarity may provide a more stable environment for long-term investors and may very well be a significant factor in the movement of future value.