We have seen a number of reports recently that discuss how Google Trends can be used to prove there is a huge demand for Ripple XRP and TRON TRX at the moment. Because of this, we decided to run a little investigation into the topic. What we see is that actually, the popularity of Ripple XRP and TRON TRX within Google searches is far too volatile report on. In essence, the data is so bouncy that in reality, the data can’t be used to support this claim that Ripple XRP and TRON TRX have grown in popularity, especially when you consider the analytic reports of other currencies on Google Trends too.
Here are some examples of what we are talking about:
TRON TRX Worldwide Google Trends (from 04/04/2018)
Ripple XRP Worldwide Google Trends (from 04/04/2018)
Bitcoin Worldwide Google Trends (from 04/04/2018)
Litecoin Worldwide Google Trends (from 04/04/2018)
If you look carefully at the embedded graphs, you can see that since April, there has been no significant climb in the level of search terms relating to TRON, Ripple, Bitcoin or Litecoin. Moreover, look what happens when we draw a comparison from the height of crypto-popularity from December 2017, until now:
TRON TRX Worldwide Google Trends (from 01/12/2018)
Ripple XRP Worldwide Google Trends (from 01/12/2018)
Bitcoin Worldwide Google Trends (from 01/12/2018)
Litecoin Worldwide Google Trends (from 01/12/2018)
Look at these trends and tell me that you think any of the aforementioned coins are increasing in popularity, due to a surge in Google searches…
Interestingly, if you compare the trajectory of the above graphs to the plots seen for currency values on Coinmarketcap.com, the trend is very similar. I’d even go as far as saying (from the graphs presented) that if anything, the aforementioned currencies have gone down in search popularity as a result of falling market values.
We aren’t calling out the other news reports here that are stating XRP and TRX have seen a huge rise in popularity, rather, we are pointing out that overall, search trends are very bumpy, one day they are up, the next they are down. It is only when you draw a long comparison over a number of months that you can see actually, search trends for a lot of cryptocurrencies are at an all time low at the moment, in line of course with the falling market values too.