Recently, XRP has shown strength despite pressure from the SEC's appeal. Positive factors have driven XRP's price to increase, leading to optimism about its future.
XRP's Stability Amid SEC Appeal
On January 15, 2025, the SEC filed an appeal with the Second Circuit Court to overturn Judge Analisa Torres' July 2023 ruling. The SEC argues that Ripple's sale of XRP qualifies as an unregistered securities offering. Ripple’s Chief Legal Officer, Stuart Alderoty, stated that the SEC’s appeal restates previously failed arguments.
Technical Analysis and Market Trends of XRP
Despite the SEC's appeal, XRP's market performance remains strong, indicating a bullish trend. Currently, XRP is priced at $3.2657, marking a 7-year high. Technical analysis indicates that XRP has broken past key resistance levels, and it is expected to reach the $5 mark in favorable macroeconomic conditions.
Search Trends and Whale Activity Boost XRP Confidence
XRP's global search popularity has surpassed Bitcoin on Google, indicating increased market interest. Data from Santiment shows continued 'whale' activity in XRP, suggesting a steady rise in institutional and large-scale investor interest.
XRP’s strong performance is not only due to positive legal developments but also its expanding ecosystem. The potential approval of an XRP spot ETF could be a significant catalyst for continued growth in interest.
