Ripple (XRP) dominates Ethereum (ETH) on this front: details

TL;DR

According to Google data, Ripple’s native token has recently enjoyed a surge in global interest, as well as posting double-digit weekly price gains. The ongoing legal battle between Ripple and the SEC may be close to a resolution, with some experts predicting a settlement before the end of the summer.

Achievement of XRP

Ripple’s XRP has been in the headlines lately due to its price appreciation over the past week or so. It hit a nearly four-month high of over $0.63 on July 18 before retreating to the current $0.60.

XRP Price, Source: CoinGecko

The weekly increase of the token is around 12%, thus surpassing Bitcoin (BTC) and Ethereum (ETH), whose gains during the same period are 6% and 3%, respectively.

Aside from these impressive increases, Ripple’s native token has caught the attention of retail investors. Google Trends data shows that searches for “Ripple (XRP)” have increased in the past two weeks, perhaps due to the price increase, and have dominated queries for “Ethereum (ETH)” for almost a month.

The countries most intrigued by XRP are Australia, South Africa, Belgium, Cyprus and Switzerland.

Interest in XRP vs ETH, Source: Google Trends

It is worth noting that interest in ETH has increased in recent days and could soon reverse the current trend. A contributing factor to this potential development could be the official launch of Ethereum spot exchange-traded funds (ETFs) in the United States and the hype surrounding the initiative.

The five products that will begin trading today (July 23) are 21Shares Core Ethereum ETF, Fidelity Ethereum Fund, Invesco Galaxy Ethereum ETF, VanEck Ethereum ETF, and Franklin Ethereum ETF.

The Ripple lawsuit against SEC

Another element possibly fueling more interest in XRP is the progress of the legal battle between Ripple and the US Securities and Exchange Commission (SEC) and rumors of an upcoming resolution.

The entities have been facing each other for more than three and a half years, and the case entered the trial phase in April. While its official ending could be extended indefinitely due to possible appeals from both sides, some people suggested an outcome could be just around the corner.

US Attorney Fred Rispoli set July 31 as a possible settlement date, while Jeremy Hogan believes the news could be announced before the end of the summer. Ripple CEO Brad Garlinghouse also chimed in, saying a resolution is “very close:”

“The sentence was clear from the judge. There is one last piece about these investment contracts sold to institutions. We expect a resolution very soon, but we cannot predict exactly when the judge will rule.”

Those curious to know the specifics of the case and how it may affect the price of XRP, check out our dedicated video below:

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