Recent data indicates that XRP has emerged as the most searched cryptocurrency on Coinbase, reflecting a surge in investor interest. According to researcher Micah Paul, XRP received 26,000 queries, surpassing Onyxcoin and Bitcoin.
XRP's Popularity on Coinbase
XRP has drawn attention on Coinbase due to its significant trading volumes. Data shows that XRP accounted for over 25% of Coinbase’s 24-hour trading volume, translating to approximately $1.7 billion in trades. In comparison, Bitcoin's trading volume stood at $1.3 billion, representing about 19.6% of the exchange's total volume.
Reasons Behind XRP's Popularity Surge
Several factors have contributed to XRP's popularity surge. One notable factor is the significant price rally, with its value increasing by over 600% since November 2024, peaking at $3.33. This rally propelled XRP to a market capitalization of $187 billion, placing it ahead of major corporations like Adobe and HSBC. Speculation regarding XRP's potential role as a digital reserve in the U.S. also contributes, though these rumors remain unverified. Additionally, investor sentiment has been boosted by anticipation of XRP exchange-traded funds (ETFs).
Onyxcoin and Bitcoin: XRP's Competitors
Onyxcoin (XCN) and Bitcoin ranked second and third, respectively, in Coinbase searches, with 14,000 and 13,000 searches. Onyxcoin, in particular, gained attention after a dramatic 1000% rally over two weeks, though it faced subsequent corrections amid broader market fluctuations.
Coinbase data underscores a shift in investor interests, with XRP gaining substantial traction within the cryptocurrency community. It remains to be seen whether this increased interest will lead to sustained market dominance, but for now, XRP is undeniably in the spotlight.
