14th January 2025 – (New York) XRP has displayed remarkable resilience against the broader downturn in the cryptocurrency market, buoyed by heightened buying activity from both retail and institutional investors. The remittance-based token rose over 4% in the past week, setting it apart from other major cryptocurrencies that faced declines.
Recent data from CoinShares revealed that XRP investment products globally attracted over $41 million in inflows last week. This surge in investment has contributed to XRP’s strong performance, especially against the backdrop of lacklustre trading in other top assets. Notably, XRP is the only cryptocurrency among the top 20 by market capitalisation to record positive gains during this period.
The recent price action is further supported by net outflows of XRP across leading exchanges. Platforms such as Binance, Bybit, and OKX reported substantial XRP outflows of $82 million, $63 million, and $59 million, respectively. However, US investors have shown a more cautious approach, with Coinbase noting inflows exceeding $65 million.
Attention is now focused on the 15th January deadline for the SEC to file its opening brief regarding its appeal against Judge Analisa Torres’ ruling in the Ripple vs. SEC case. While speculation within the XRP community suggests the SEC may not pursue the appeal, retired securities lawyer Marc Fagel has provided insight into the typical litigation process. He noted that delays in filing briefs are common, stating, “In 30 years of litigation, the number of times I saw a lawyer file a brief before it was due was roughly zero.”
Fagel also hinted that a new SEC administration—expected to take shape following Donald Trump’s presidential inauguration—could potentially dismiss the appeal, although such a move would be unusual.
XRP has recently broken above the upper boundary of a bullish pennant formation, which has been developing since early December. If it maintains this breakout and treats the pennant’s upper boundary as support, analysts suggest XRP could target new all-time highs near $4.50. However, it must first overcome a significant resistance level at $2.90, its highest price in the past six years.
The Relative Strength Index (RSI) and Stochastic Oscillator indicators currently reflect strong bullish momentum. A daily close below the $1.96 support level, however, would signal a potential reversal in this positive trend.
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