Ethereum Watch

• ETH and XRP saw double-digit spikes.
• XRP was in a bull trend at press time, 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 rebounds.

XRP has seen more notable price movement, largely due to recent developments affecting the asset.

Ripple and Ethereum see positive moves.

A post by Santiment on the 9th of August revealed 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 the last few weeks.

How Ethereum’s 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 the 8th of August, XRP’s social volume spiked to 4.5%, up from its previous peak of around 2.95%, marking its highest social volume in months.

Additionally, XRP’s social dominance reached its highest point in nearly a year on the 8th of August, climbing to 1,006. 

In contrast, while Ethereum did not experience the same dramatic spikes as XRP, it still showed positive trends.

Ethereum’s social volume briefly rose to over 10% on the 8th of August and maintained this level despite a decline. Its social dominance also remained strong, holding steady at over 2,000.

XRP, ETH see double-digit increase

Ripple’s price trend analysis indicates a more than 30% increase over the past four days.

According to AMBCrypto, a significant surge occurred on the 7th of August, with the price rising by over 18%, largely due to the settlement of its long-standing legal battle with the SEC. 

Furthermore, by the close of trading on the 8th of August, Ripple had gained 2.70%, maintaining a price of around $0.60, despite a slight decline of over 2% at the time of writing.

Read Ethereum’s [ETH] Price Prediction 2024-25

Additionally, Ethereum also saw a substantial increase, with its price jumping more than 18% on 8th August. With this, its price climbed from approximately $2,300 to over $2,600.

As of the latest update, Ethereum was trading at around $2,672, showing a minor decline of less than 1% but still holding strong.

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