Victoria, Seychelles, January 16, 2025, PakGazette
Recently, despite pressure due to the call from the US Securities and Exchange Commission, XRP has shown strength and market sentiment reached new highs. Multiple positive factors have driven XRP price will skyrocket, and analysts are optimistic about its prospects, predicting a possible breakthrough of the $5 milestone. 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 the July 2023 ruling by Judge Analisa Torres. The SEC maintains that the sale of XRP to retail investors qualifies as an unregistered securities offering. Using the Howey test, the SEC claims that Ripple’s promotional activities created expectations of profits, thus constituting an investment contract.
Ripple Chief Legal Officer Stuart Alderoty answered:
“As expected, the SEC’s appeal brief is a rehash of arguments that have already failed – and will likely be abandoned by the next administration. We will respond formally in due course. For now, know this: the SEC’s lawsuit “It’s just noise. A new era of pro-innovation regulation is coming and Ripple is thriving.”
This legal battle, ongoing since December 2020, remains one of the most followed developments in the crypto industry.
XRP Technical and Sentiment Synergy Drives Bullish OutlookDespite the appeal of the SEC, the market performance of XRP has remained intact, showing a strong bullish trend. As of now, XRP is priced at $3.2657, marking a 7-year high. Its 24-hour trading volume has increased to nearly $25 billion, with a total market capitalization of $187.485 billion, surpassing USDT and ranking third globally among cryptocurrencies.
Technical analysis indicates that XRP has broken through key resistance levels, with the 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 XRP confidenceXRP’s global search popularity has surpassed Google (NASDAQ:), reflecting increased market interest. This suggests that investors may be transferring capital from Bitcoin to XRP, further fueling optimism.
Data from analytics firm Santiment shows a continued rise 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 price consolidations following the early 2024 highs, whales maintained their accumulation behavior, indicating that XRP’s appeal to institutional and large-scale investors is steadily increasing.
XRP’s strong performance is not only attributed to positive legal developments but also to its expanding ecosystem. The possible approval of a XRP Spot ETF It is a fundamental factor 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 – Best Platform for XRP InvestorsAs XRP continues its upward trajectory, BYDFi stands out as the platform of choice 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 counterparty system: BYDFi is highly praised by investors for its competitive rates and high-speed pairing system.
- Reliable and trustworthy: On social media and 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, stated:
“In the rapidly evolving global crypto market, we remain committed to user-centric innovation. With low fees, high liquidity, innovative trading features, compliance with global compliance standards and multi-layered security measures, BYDFi offers a trading platform world-class experience, helping users take advantage of market opportunities.
Currently, BYDFi offers a special welcome bonus of up to 8,100 USDT for new users. Visit the BYDFi official website or download the app for more details.
About BYDFiFounded in 2020, BYDFi is ranked among the top 10 global crypto exchanges by Forbes and 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 diverse user needs. Strategic partnerships with leading payment providers such as Banxa, Transak and Mercuryo simplify the cryptocurrency purchasing process and ensure low-cost transactions.
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