Victoria, Seychelles, January 16, 2025, PK Press Club
Recently, despite the pressure due to the appeal of the United States Securities and Exchange Commission, XRP has shown strength with market sentiment reaching new highs. Multiple positive factors motivated The price of XRP soaring, and analysts are optimistic about its prospects, predicting an eventual crossing of the $5 mark. In this regard, BYDFi has consistently maintained its position as the go-to trading platform for XRP investors, thanks to its strong user base and superior trading matching system.
SEC appeal fails to shake Ripple’s confidenceOn January 15, 2025, the SEC formally filed an appeal with the Second Circuit Court to overturn Judge Analisa Torres’ July 2023 decision. The SEC argues that the sale of XRP to retail investors qualifies as an unregistered securities offering. Using the Howey Test, the SEC asserts that Ripple’s promotional activities created expectations of profits, thereby constituting an investment contract.
Ripple Legal Director Stuart Alderoty replied:
“As expected, the SEC’s appeal brief is a rehash of arguments already rejected – and likely to be abandoned by the next administration. We will respond formally in due course. For now, know this: the lawsuit the SEC is just noise. A new era of innovation-friendly regulation is coming and Ripple is thriving.”
This legal battle, ongoing since December 2020, remains one of the most closely followed developments in the crypto industry.
XRP Technical and Sentiment Synergy Generates Bullish OutlookDespite the SEC’s appeal, the performance of the XRP market remained unwavering, displaying a strong uptrend. Currently, XRP is priced at $3.2657, marking a 7-year high. Its 24-hour trading volume surged to nearly $25 billion, with a total market capitalization of $187.485 billion, surpassing USDT and ranking third among cryptocurrencies globally.
Technical analysis indicates that XRP has broken out above key resistance levels, with bulls firmly in control. In a favorable macroeconomic environment, XRP is expected to challenge the $5 target in the near term.
Global Search Trends and Whale Activity Boost Confidence in XRPXRP’s global search popularity has surpassed that of Google (NASDAQ:), reflecting increased market interest. This suggests that investors could shift their capital from Bitcoin to XRP, further fueling optimism.
Data from analytics firm Santiment shows a continued increase in whale interest in XRP. Since November 12, addresses holding between 1 and 10 million XRP have added 1.4 billion tokens, worth over $3.8 billion. Even during the price consolidations following the early 2024 highs, whales maintained their accumulation behavior, signaling that XRP’s appeal to institutional and large-scale investors continues to grow.
XRP’s strong performance is not only attributed to positive legal developments, but also its expanding ecosystem. The potential approval of a XRP Spot ETF is a key driver of market optimism. According to a JPMorgan report, an approved ETF could attract between $4 billion and $8 billion in net new assets.
BYDFi Exchange: The Best Platform for XRP InvestorsAs XRP continues its upward trajectory, BYDFi is establishing itself as the preferred platform for investors, thanks to its cutting-edge technology and strong user base.
- Comprehensive trading options: BYDFi offers spot trading, perpetual contracts, and leveraged tokens, providing a flexible trading environment for users.
- Low fees and efficient matching system: Investors praise BYDFi for its competitive fees and high-speed matching system.
- Reliable and reliable: On social media and in professional communities, investors generally view BYDFi as a stable, secure, and efficient trading service, making it the ideal choice for investing in XRP.
Michael, co-founder of BYDFi, said:
“In the rapidly evolving global crypto market, we remain committed to user-centric innovation. With low fees, high liquidity, innovative trading features, adherence to global compliance standards and multi-layered security measures, BYDFi offers a world-class trading system. experience, helping users seize market opportunities.
Currently, BYDFi is offering a special welcome bonus of up to 8,100 USDT to new users. Visit the BYDFi official website or download the app for more details.
About BYDFiFounded in 2020, BYDFi is ranked among Forbes’ Top 10 Global Crypto Exchanges and is trusted by over 1,000,000 users worldwide. The platform supports over 600 cryptocurrencies for spot trading and offers perpetual contracts with leverage ranging from 1x to 200x, meeting various user needs. Strategic partnerships with leading payment providers such as Banxa, Transak and Mercuryo simplify the process of purchasing cryptocurrencies and ensure low-cost transactions.
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ContactSenior Marketing DirectorChloeBYDFi Fintech LTDchloé@bydfi.com
