XRP is demonstrating consistent growth despite the SEC's appeal. Analysts forecast potential new highs.
SEC's Appeal and Ripple's Response
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 the sale of XRP to retail investors constitutes an unregistered securities offering. Ripple's Chief Legal Officer, Stuart Alderoty, expressed that the SEC's appeal lacks new arguments and is unlikely to be upheld by future administration.
XRP Technical Analysis and Market Trends
Despite the SEC's appeal, XRP shows a strong bullish trend. Currently priced at $3.2657, it marks a 7-year high. The 24-hour trading volume has soared to nearly $25 billion, with a total market capitalization of $187.485 billion. Technical analysis indicates that XRP has surpassed key resistance levels and is poised to achieve the $5 target.
XRP's Global Search Popularity and Whale Activity
XRP's global search popularity on Google has surpassed Bitcoin, indicating increased market interest. Santiment analytics data shows a rise in whale interest in XRP. Since November 12, addresses holding 1 to 10 million XRP have added 1.4 billion tokens, valued at over $3.8 billion.
XRP's strong performance is supported by positive legal developments and an expanding ecosystem. The potential approval of an XRP spot ETF could attract significant investments.
