This Is XRP’s Silver Lining Following SEC’s Appeal in the Ripple Case: Details

TL;DR

• XRP saw increased social media discussions due to Bitwise’s ETF filing and renewed developments on the Ripple v. SEC front.
• Aptos (APT) gained traction with its Asia expansion, while Chainlink’s (LINK) recent popularity is tied to SWIFT collaboration.

Increased Buzz Around XRP

Crypto analytics platform Santiment estimated that Ripple’s native token has lately experienced the highest discussion rise across social media.

One element playing a role is Bitwise’s filing for an XRP exchange-traded fund (ETF). As CryptoPotato reported, the company registered the product in Delaware, sparking enthusiasm and anticipation among the community that an ETF related to the asset could be on its way. 

XRP is also trending due to the US SEC’s decision to appeal a 2023 verdict set by Federal Judge Torres. Back then, the magistrate ruled that secondary sales of Ripple’s token did not constitute securities sales.

The regulator had until October 7 to contend, and numerous market observers envisioned the end of the lengthy legal tussle if it had remained silent. The filed appeal, though, means the lawsuit can drag on for a few more years, triggering a fresh doze of uncertainty.

XRP’s price reacted negatively to the news, plunging by double digits to a monthly low of approximately $0.51. It slightly rebounded in the past few days, currently trading at around $0.52 (per CoinGecko’s data).

XRP Price, Source: CoinGecko

The Other Trending Cryptocurrencies

According to Santiment, Aptos (APT) and Chainlink (LINK) rounded up the top 3 club of digital assets witnessing the most discussions.

Aptos Labs recently showed its intentions to expand its presence in Asia by agreeing to acquire the Japanese non-fungible token (NFT) service provider HashPalette.

“Japan is a key market for Aptos Labs. The agreement to acquire HashPalette and the migration of HashPort’s Palette Chain into Aptos are critical first steps toward empowering Japanese enterprises and developers with cutting-edge blockchain technology,” said Mo Shaikh, founder and CEO of Aptos Labs. 

The rising popularity of APT can also be linked to Franklin Templeton’s launch of its on-chain US government money fund (FOBXX) on the Aptos blockchain. 

“This integration represents a key milestone in merging TradFi with decentralized technology, further positioning Aptos as the leading network for secure, performant, and interoperable financial solutions,” the team behind the blockchain platform stated.

APT’s price is among the top performers in the market following the aforementioned developments. It is currently worth around $8.60, representing a 20% increase on a two-week scale.

APT Price, Source: CoinGecko

Chainlink (LINK) takes third place in terms of the biggest social buzz. Santiment noted that industry participants are excited about SWIFT’s collaboration in blockchain technology. 

“There have been successful trials involving Chainlink’s Cross-Chain Interoperability Protocol (CCIP) and its role in connecting various blockchain networks for financial institutions,” the analytics platform said.