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CryptoIntelligence 2025-01-16 23:27:00

XRP Hits Seven-Year High Amid Regulatory Optimism and SEC Appeal

XRP Hits Seven-Year High Amid Regulatory Optimism and SEC Appeal

XRP climbed to its highest level since January 2018, driven by optimism surrounding emerging crypto regulations, even as the US Securities and Exchange Commission (SEC) filed an appeal against a key court ruling. The price of XRP surged to $3.20 on Jan. 15, marking a seven-year high, before retreating slightly to $3.09 as of 8:45 a.m. UTC on Jan. 16. CoinMarketCap data shows XRP gained over 32% in the past week. This rally occurred despite the SEC’s appeal filed on Jan. 15. The agency seeks to overturn a July 2023 decision by District Judge Analisa Torres, which ruled that XRP sales to retail investors were not unregistered securities. Ryan Lee, chief analyst at Bitget Research, noted that XRP’s price momentum is largely due to Ripple Labs’ partial legal victories and growing investor optimism about regulatory clarity. “XRP’s surge can be attributed to favorable outcomes in Ripple’s SEC lawsuit and a more crypto-friendly political climate in the US. If regulatory uncertainties are resolved, the influx of institutional investors could further solidify XRP’s position in the crypto market,” Lee told Cointelegraph . RippleNet’s expanding adoption has also strengthened XRP’s appeal in the market, Lee added. Investor confidence is rising ahead of US President-elect Donald Trump’s inauguration on Jan. 20. His administration is expected to provide greater regulatory clarity for cryptocurrencies and consider the Bitcoin Act, aimed at establishing a strategic Bitcoin reserve for the US economy. Looking ahead, an XRP exchange-traded fund (ETF) could serve as a major price catalyst in 2025. JPMorgan estimates that an approved XRP ETF could attract $3 billion to $6 billion in net new investments, similar to Ether ETFs. Some analysts predict XRP could surpass $14, supported by technical indicators like a bullish pennant formation. Crypto analyst Steph Is Crypto highlighted potential targets of $14 and $5 in a recent post.

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