XRP Value Tripled Since The SEC Actions, Mike Novogratz Says

Mike Novogratz posted an interesting message on his social media account about the price of XRP. Check it out below.

The value of $XRP has actually almost tripled since the SEC actions. It hasn’t plummeted. It’s a testament to the fact that once communities are formed with shared interest they are damn resilient. https://t.co/0IPcd8wyuN

— Mike Novogratz (@novogratz) October 17, 2021

Someone said: “It plummeted over 60% when the case was filed wiping some people out because they panic sold or was forced to sell. That’s ok if it’s b/c the market itself was the cause but it’s not ok when caused by arbitrary SEC overreach.I agree its recovery shows it’s not only tied to Ripple.”

One other commenter posted this: “based on XRP’s utility potential , it should be 50x by now in comparison to slow BTC and high gas fees of ETH. so it just trippled since lawsuit after 80% straight dump where as others are 6X since dec 2020 post ripple lawsuit.”

It’s been just revealed that the crypto market intelligence platform Santiment analyzes key on-chain metrics for XRP that are flashing healthy signals for the coin.

Santiment is addressing XRP’s social volume metric and says discussions involving the sixth-largest crypto-asset all over the internet have been pretty quiet.

Check out what the firm has to say:

“XRP’s social volume saw an uptick, but nothing too crazy like what we observed back in April, where [its] price was parabolic and everyone was just crazy over XRP.”

Santiment continued and pointed out the following as well:

“This lack of interest from the crowd is healthy for now and more so when price keeps inching upwards and social volume remains low, suggesting perhaps the crowd are in disbelief.”

At the moment of writing this article, XRP is trading in the green, and the coin is priced at $1.12.