Over the past 12 hours, Ripple’s XRP has experienced a noticeable uptick in whale activity, signaling increased investor interest ahead of its ongoing legal showdown with the U.S. Securities and Exchange Commission (SEC). XRP is currently trading around $0.547, showing a modest recovery of approximately 2% over the past week(thecurrencyanalytics).
The surge in whale activity, with over 35,700 unique wallets making transfers in a single day, indicates strategic positioning by investors in anticipation of significant market developments. Additionally, Ripple filed a cross-appeal against the SEC, aiming to challenge the $125 million penalty imposed for alleged securities violations(thecurrencyanalytics). This legal case continues to shape both market sentiment and regulatory discussions surrounding cryptocurrencies in the U.S.
On the technical side, XRP faces resistance at $0.60, with support levels between $0.52 and $0.54. The token is also benefiting from increasing discussions about Central Bank Digital Currencies (CBDCs), which Ripple is involved in developing, potentially adding to future demand (cryptonews).
Despite the legal uncertainties, XRP’s use cases for cross-border payments and institutional adoption continue to evolve, positioning the token well for the future.
