XRP social activity soars to 3-month high as daily price rises 13%

FinboldPubblicato 2022-09-30Pubblicato ultima volta 2022-10-01

Introduzione

The cryptocurrency market seems to be gaining steam again.

XRP social activity soars to 3-month high as daily price rises 13%

The cryptocurrency market seems to be gaining steam again, as most of its assets are back to trading in the green zone, including XRP, which has recorded gains in more than one area – social activity and price increase.

Specifically, XRP’s three-month social activity is on the rise, recording 1.95 billion social engagements from 9,424 social contributors as of September 29, 2022, according to the data and chart posted by crypto and stock market social intelligence platform LunarCrush.

XRP 3-month activity. Source: LunarCrush As explained in the tweet, these figures represent an increase of 38% in social engagements and 8% in the number of social contributors over the period of three months.
Major growth in three months and on the day
At the same time, the price of XRP has recorded significant increases as well, growing by nearly 59% over the three months leading up to September 30, according to data retrieved from CoinMarketCap.

XRP 3-month price chart. Source: CoinMarketCap

As things stand, the price of XRP is currently $0.4926, which represents a 12.84% increase on the day, although still a decline of 7.9% across the previous week. Its market cap now amounts to $24.42 billion, making XRP the sixth-largest crypto by this indicator.
That said, the crypto community over at CoinMarketCap is bearish on the token’s near future, with votes estimating that the decentralized finance (DeFi) token would trade at $0.4166 by October 31, 2022, as Finbold reported.
XRP – a security or not?
Meanwhile, XRP is entangled in a widely publicized lawsuit that the United States Securities and Exchange Commission (SEC) launched against the token’s issuer, Ripple Labs, accusing it of illegally selling the crypto that the regulator considers a security.
Recently, Ripple’s defense team introduced an argument that the XRP tokens cannot be securities as there were no “investment contracts” involved in their issuance, which would give investors rights and force the issuer to act in their interest.
Court updates reflecting on the price
One of the reasons for the surge in the price of XRP could be the news of both sides requesting a summary judgment in the case, which would allow them to skip the trial phase and allow the judge to make a ruling.

Effect Ripple v. SEC legal updates on XRP price and volume. Source: Kaiko Research Historically, the court updates on this case had a significant impact on the price of XRP, as well as its volume, according to the data shared with Finbold by the financial analytics platform Kaiko Research on September 29.

Letture associate

Are the AI Giants' 'Token Subsidy Wars' Almost Over?

The article "Are AI Giants' 'Token Subsidy Wars' Nearing an End?" examines the ongoing price competition in AI token pricing, arguing that current subscription costs are heavily subsidized, with services like OpenAI and Anthropic reportedly subsidizing tokens at up to 70 times the subscription fee. Unlike past tech "subsidy wars" (e.g., ride-hailing, food delivery), AI tokens lack strong lock-in effects; users can easily switch providers if prices rise, making sustained subsidies risky. The piece highlights a structural asymmetry: giants like Google can fund subsidies with massive advertising revenue, while rivals like OpenAI and Anthropic rely on investor capital. Google Ventures founder Bill Maris suggests Google could slash token prices by 80%, putting immense pressure on competitors, especially as model capabilities converge. The article posits two potential endgames: a "winner-takes-all" monopoly scenario (like internet platforms) or a "utility" model where tokens become a low-margin, standardized commodity like electricity. Given the low switching costs, the latter seems more likely. This implies a prolonged, profitless competition where the primary goal for companies is to stay in the game, not to achieve dominance. For users, this may mean continued access to heavily subsidized AI services for the foreseeable future.

marsbit24 min fa

Are the AI Giants' 'Token Subsidy Wars' Almost Over?

marsbit24 min fa

Trends in US Stocks (June 22): Strait of Hormuz Agreement Changes Course, Thursday's PCE and Micron to Determine Chip Sector Direction

U.S. Stock Market Outlook (June 22): Strait of Hormuz Deal Falters, Thursday's PCE & Micron to Set Chip Sector Direction. Geopolitical tensions resurged over the weekend as Iran's IRGC announced the closure of the Strait of Hormuz, and its negotiation team walked out after threats from Trump, pausing U.S.-Iran talks. This renewed risk premium is weighing on U.S. equity futures ahead of the open. Last week's market was driven by chip stocks, with the Philly Semiconductor Index hitting a record high. While the Fed's hawkish tone was overshadowed by initial deal optimism, the S&P 500 gained 0.9% for the week. SpaceX debuted strongly but ended with two down days. Key events this week: The status of U.S.-Iran negotiations remains the immediate variable for oil and energy stocks. Monday sees Marvell and Flex added to the S&P 500. Tuesday's MSCI reclassification could benefit South Korean semiconductors and memory stocks. **Thursday, June 25th, is the critical day**, featuring the May Core PCE report and Micron's earnings. Hotter PCE data could solidify expectations for two 2024 rate hikes, while softer data would rapidly reprice rate cut bets. Micron's report is a key test for the AI narrative; the market will scrutinize its 2027 HBM supply visibility, HBM4 progress, and its position in Nvidia's Vera Rubin supply chain. Nvidia's AGM and a potential OpenAI GPT-5.6 release will make Thursday a pivotal 24 hours for AI. Friday concludes with the Russell reconstitution, elevating small-cap volatility. In summary, last week's gains face a true test. The path hinges on two concurrent threads: geopolitical developments with Iran and the AI narrative defined by Micron's guidance and Nvidia's updates. The chip sector's record highs are vulnerable if Thursday brings hot PCE data and conservative guidance from Micron. Conversely, positive outcomes could reaffirm the AI bull case, making this week's volatility a potential entry window.

marsbit1 h fa

Trends in US Stocks (June 22): Strait of Hormuz Agreement Changes Course, Thursday's PCE and Micron to Determine Chip Sector Direction

marsbit1 h fa

Viewpoint: The Impossible Triangle is Fundamentally a Pseudo-Problem

"The Cryptography System That Can't Keep a Secret" Blockchain is a slow, expensive, shared computer owned by no one, whose only advantage is permissionless access and trustless verification. While "scalability" was solved, the true barriers to mass institutional adoption are two inherent design features: legal ambiguity and radical financial transparency. The industry found its killer app—pure ledger-based assets like money (e.g., $300B+ stablecoins)—but serves a narrow band of users. Large capital (family offices, sovereign funds) stays away because it's legally uncertain and operationally exposes every position and transaction to the public and predatory MEV, which acts as a quantifiable tax. We built a powerful cryptographic system yet failed to encrypt user activity. Privacy is not the enemy of compliance. Modern cryptography (like zero-knowledge proofs) enables proving facts (solvency, KYC, risk limits) without revealing the underlying data. This resolves the transparency vs. privacy false dilemma. "Default privacy with provable compliance" is a pure upgrade, retaining auditability for regulators while eliminating the leak. It's the bridge for the next trillion dollars of capital, finally allowing the most powerful cryptography to do what it was always meant to: keep a secret.

marsbit1 h fa

Viewpoint: The Impossible Triangle is Fundamentally a Pseudo-Problem

marsbit1 h fa

OpenAI's "Most Open" Move: Codex No Longer Exclusively Favors GPT

OpenAI has significantly opened up its Codex programming agent by introducing a "model provider" configuration layer that allows users to connect it with various open-source models, not just its proprietary GPT. Through a configuration file or a simple `--oss` command-line flag, Codex can now route requests to local services like Ollama or LM Studio, or to third-party APIs such as Mistral or DeepSeek. This move is seen as one of OpenAI's most "open" steps, potentially lowering costs and enhancing privacy for developers who can run code generation offline. However, integration isn't seamless for all models. Codex primarily uses OpenAI's newer Responses API, while many open-source models rely on the older Chat Completions interface. This creates compatibility issues, especially for advanced features like function calling. The developer community is already building "routing" or adapter layers (e.g., CC Switch, LiteLLM) to translate between these protocols, enabling hybrid setups where GPT handles planning and open-source models handle execution. Analysts interpret this as a strategic shift for OpenAI: from competing solely on model superiority to controlling the platform and interface standards. By making Codex a flexible, pluggable entry point for AI-assisted programming, OpenAI aims to become the central hub in the developer toolchain ecosystem, even as users gain the freedom to switch underlying models.

marsbit2 h fa

OpenAI's "Most Open" Move: Codex No Longer Exclusively Favors GPT

marsbit2 h fa

When 500 Million People Abandon ChatGPT

ChatGPT's Global AI Assistant Market Share Drops Below 50% Three and a half years after its groundbreaking launch, ChatGPT faces a pivotal moment. While it remains the largest AI assistant globally, its market share has fallen below 50% for the first time, reaching 46.4% as of May, according to Sensor Tower's 2026 AI landscape report. Google's Gemini (27.7%) and Anthropic's Claude (10.3%) are now its main competitors, with Grok, Perplexity, and others also gaining ground. The market has evolved from awe and initial adoption into a phase of product comparison, ecosystem integration, and commercialization. User behavior has matured significantly. Loyalty is low; users readily switch between assistants for specific tasks. Gemini benefits from deep integration within Google's ecosystem (Search, Gmail, Android), while Claude has carved a niche among productivity-focused users with strong retention, nearly matching ChatGPT's. User choice is now influenced by a complex mix of capability, ecosystem, price, use case, and even brand trust. Commercialization is accelerating. AI app downloads continue but growth is slowing, while user spending is rising. Over $4.2 billion was spent in-app during H1 2026. Claude leads in premium subscription conversion rates (13%). OpenAI is expanding its revenue streams, testing ads shown to 17% of ChatGPT users daily by May. This shift highlights the immense financial pressure of model training and inference costs. Despite revenue growth, OpenAI's cash burn is intense, reaching $3.7 billion in Q1 2026. The company projects this could rise to $25-57 billion in the coming years, underscoring the industry-wide challenge of scaling profitably. The symbolism is clear: ChatGPT no longer defines the AI assistant market alone. The era of a single dominant product is over. Gemini, Claude, and specialized tools are collectively shaping user habits and business models. As AI assistants move from novelty to utility—judged on accuracy, efficiency, and value—they are becoming embedded in everyday digital life. ChatGPT may have lost its majority, but AI as a whole is winning, entering a mature, competitive, and diverse new phase.

marsbit2 h fa

marsbit2 h fa

Trading

Spot

Futures