- ETH and XRP saw double-digit spikes.
- XRP was in a bull trend at the time of writing, while ETH remained stuck in a bear trend.
After a turbulent week marked by numerous sell-offs, Ethereum [ETH] and Ripple [XRP] have emerged as major assets experiencing significant upturns.
XRP has seen more notable price movement, largely due to recent developments affecting the asset.
Ripple and Ethereum are seeing positive movements.
A message from Santiment on August 9, it emerged that XRP and Ethereum experienced significant spikes in both price and social volume over the past 24 hours.
This increase is particularly notable considering the recent declines that both XRP and ETH have faced in recent weeks.
How Ethereum and Ripple’s social indicators moved
Data from Santiment indicates notable movements in the social indicators for Ethereum and Ripple, with XRP showing the most significant changes.
On August 8, XRP social volume spiked to 4.5%, up from the previous peak of around 2.95%, marking the highest social volume in months.
Furthermore, on August 8, XRP’s social dominance reached its highest point in almost a year, rising to 1,006.
Source: Santiment
In contrast, while Ethereum did not experience the same dramatic spikes as XRP, it still showed positive trends.
Ethereum social volume briefly rose above 10% on August 8 and remained at this level despite a decline. Social dominance also remained strong and remained stable at over 2,000.
XRP and ETH are seeing double-digit increases
Ripple’s price trend analysis points to an increase of more than 30% over the past four days.
According to AMBCrypto, a significant increase occurred on August 7, with the price rising by over 18%, largely due to the resolution of the long-running legal battle with the SEC.
Moreover, at the end of trading on August 8, Ripple was up 2.70%, maintaining a price of around $0.60, despite falling slightly over 2% at the time of writing.
Source: TradignView
Read Ethereum’s [ETH] Price forecast 2024-25
Moreover, Ethereum also saw a significant increase, with its price rising by more than 18% on August 8. This increased the price from about $2,300 to over $2,600.
As of the last update, Ethereum was trading around $2,672, showing a small decline of less than 1% but still remaining strong.
Source: TradingView