๐ฅ๐ฅ๐ฅ๐๐๐ ๐๐๐ข๐ง๐ฌ ๐๐ญ๐ซ๐จ๐ง๐ ๐๐ฎ๐ฒ๐ข๐ง๐ ๐๐ซ๐๐ฌ๐ฌ๐ฎ๐ซe
$XRP continues to demonstrate impressive resilience against market downturns, fueled by significant retail and institutional purchasing activity. Despite uncertainties surrounding the SECโs appeal in the Ripple case, investors remain optimistic. The SEC's delay in filing its opening brief, expected by January 15, has drawn attention. Legal experts, such as Fagel, suggest such delays are routine, stating that in his three-decade career, briefs are rarely submitted before deadlines. Even if filed, a potential change in SEC leadership following the January 20 transition could alter the appeal's trajectory, although such a reversal would be highly unconventional.
Data from CoinShares highlights $41 million in global inflows into XRP investment products last week, underlining growing investor confidence. Additionally, top exchanges reported notable net outflows of XRP, including $82 million from Binance, $63 million from Bybit, and $59 million from OKX. These outflows are considered bullish indicators, contrasting with inflows on Coinbase exceeding $65 million, reflecting a more cautious stance among U.S.-based investors.
From a technical perspective, XRP has the potential to break past the $3.55 mark and aim for a new all-time high above $4.50 in the coming weeks, provided it maintains its bullish breakout and holds the pennant's upper border as support. However, significant resistance looms at $2.90, a level not surpassed in six years. A failure to sustain momentum could push XRP towards testing its lower boundary support at $2.00. With futures liquidations amounting to $20.83 million in the past 24 hours, the stage is set for heightened volatility. Investors should monitor closely as XRP seeks to carve its next milestone.
