Victoria, Seychelles, January 16, 2025, Chainwire
Despite pressure from the recent U.S. Securities and Exchange Commission (SEC) appeal, XRP held strong, sending market sentiment to new highs. Many positive factors come into play Price of XRP Analysts are optimistic about the outlook and predict a potential breakthrough at the $5 milestone. In this regard, BYDFi Thanks to its strong user base and excellent trade matching system, it has continued to maintain its position as the preferred trading platform for XRP investors.
The SEC’s appeal failed to shake Ripple’s confidence.
On January 15, 2025, the SEC formally filed an appeal with the Second Circuit seeking to overturn Judge Analisa Torres’ July 2023 ruling. The SEC alleges that Ripple’s sale of XRP to retail investors constitutes an unregistered securities offering. Using the Howey test, the SEC alleges that Ripple’s promotional activities created an expectation of profit and thus constituted an investment contract.
Chief Legal Officer at Ripple Stuart Alderotti Replied:
“As expected, the SEC’s appeal brief is a rehash of already failed arguments and will likely be thrown out by the next administration. We will respond officially at the appropriate time. For now, know this: The SEC’s lawsuit is just noise. A new era of regulation that fosters innovation is upon us, and Ripple is thriving.”
This legal battle, ongoing since December 2020, remains one of the most closely followed developments in the cryptocurrency industry.
XRP’s technical and emotional synergies drive optimism
Despite the SEC’s appeal, XRP’s market performance remains unwavering and is showing a strong bullish trend. The current price of XRP is at a 7-year high of $3.2657. The 24-hour trading volume surged to approximately $25 billion, and the total market capitalization reached $187.485 billion, surpassing USDT and ranking third globally among cryptocurrencies.
Technical analysis shows that XRP has broken above a key resistance level and the bulls are 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 confidence
XRP’s global search popularity surpassed Bitcoin on Google, reflecting heightened market interest. This suggests that investors are moving capital from Bitcoin to XRP, which could further fuel optimism.
Data from analytics firm Santiment shows that whale interest in XRP continues to grow. Since November 12, 1.4 billion tokens worth more than $3.8 billion have been added to addresses holding between 1 and 10 million XRP. Even while prices have been consolidating since the early 2024 highs, whales have maintained their accumulation behavior, indicating that XRP’s attractiveness to institutional and large-scale investors is steadily increasing.
XRP’s strong performance is due not only to positive legal developments but also to its expanding ecosystem. potential approval XRP Spot ETF It is a key driver of market optimism. Approved ETFs could attract $4 billion to $8 billion in net new assets, according to a JPMorgan report.
BYDFi Exchange: The Best Platform for XRP Investors
As XRP continues its upward trajectory, BYDFi stands out as a 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 users with a flexible trading environment.
- Low fees and efficient matching system: Investors value BYDFi for its competitive fees and fast matching system.
- Trustworthy and Trustworthy: On social media and professional communities, investors generally view BYDFi as a reliable, secure, and efficient trading service, making it an ideal choice for XRP investments.
Michael, co-founder of BYDFi, said:
“We are committed to user-centric innovation in the rapidly evolving global cryptocurrency market. With low fees, high liquidity, innovative trading features, adherence to global compliance standards, and multi-layered security measures, BYDFi provides a world-class trading experience, helping users capture market opportunities.”
Currently BYDFi is offering a special welcome bonus of up to 8,100 USDT to new users. For more information, visit the official BYDFi website or download the app.
Introduction to BYDFi
Founded in 2020, BYDFi is ranked one of Forbes’ top 10 global cryptocurrency 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 from 1x to 200x to meet a variety of user needs. Strategic partnerships with leading payment providers such as Banxa, Transak, and Mercuryo simplify the cryptocurrency purchasing process and ensure low-cost transactions.
contact
Senior Marketing Director
Chloe
BYDFi Fintech LTD
chloe@bydfi.com
XRP Gains Momentum Toward $5 Amid SEC Appeal Challenges, BYDFi Stays Investor Favorite