• Ripple’s CEO issued a “thank you” message to the community.
• XRP’s transaction usage dropped.

Due to its ongoing legal battles with the U.S. Securities and Exchange Commission (SEC), Ripple [XRP] has been forced to navigate the complex crypto landscape. Despite the challenges, Ripple’s clan, comprising its dedicated community of supporters, has continued to demonstrate unwavering support for the project. 

Read Ripple’s [XRP] Price Prediction 2023-2024

In the face of adversity, the XRP community has ensured that the token formed part of the top discussions. Based on on-chain data, the social dominance, which measures the activity mentioned above, had notable highs in every month of the year since 2023 began.

The scent of gratitude

But at the time of writing, the social dominance decreased to 0.875%. This inferred that the XRP hype had lessened. However, the token’s volume has not significantly shown signs of a notable increase since April ended.

At press time, the XRP volume was 742.29 million. The volume shows the aggregate number of tokens that have been involved in transactions within a network. It also serves as an indicator of traders’ attempts to jump on price action. Therefore, the current state of the metric suggests that not many XRP tokens have been used lately. 

Meanwhile, Ripple’s CEO Brad Garlinghouse expressed gratitude for the community’s loyalty and described the Go to Source to See Full Article
Author: Victor Olanrewaju

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