- XRP holds strong at $3, showing resilience despite the SEC filing an appeal.
- Momentum tools show buyers are active, keeping XRP’s upward trend alive.
- Analysts think XRP could break past $3.28, but a dip below $3 is still possible
For the first time since 2018, XRP has surged past the $3 mark, and it’s holding strong despite the SEC filing a new appeal against Ripple.
https://twitter.com/CryptoGeekNews/status/1879092765063249922
At the time of writing, XRP is trading at $3.07, up 9% in the past 24 hours, showing that investors remain confident in Ripple’s ability to weather this ongoing legal storm.
What’s the SEC’s Latest Move?
On January 15, the SEC filed an appeal to overturn Ripple’s win from last July. That ruling declared that XRP sales to retail investors were not securities, a decision that sent waves of optimism through the crypto world.
https://twitter.com/mwilliamsuscg/status/1879266246577012874
But the SEC isn’t backing down. They argue that Ripple’s actions meet the Howey Test for what counts as an investment contract.
Source: https://www.investopedia.com/terms/h/howey-test.asp
They claim that Ripple’s marketing created expectations of profit, which makes XRP a security in their view.
This appeal is the latest chapter in a legal fight that has been raging since 2020, and it’s clear the stakes are high — not just for Ripple, but for the broader crypto industry.
XRP Investors Stay Confident
While the SEC’s appeal could have spooked investors, XRP is defying expectations. Instead of dropping, it’s climbing higher, with strong buying activity pushing the token past $3.
Market indicators back this up. The Chaikin Money Flow (CMF), which measures money moving into an asset, is showing positive momentum at 0.20. That suggests plenty of demand for XRP.
https://twitter.com/MrManXRP/status/1879590611172700460
Another metric, the Awesome Oscillator, which tracks market momentum, is also flashing green. This indicates that buyers are driving the market, and the rally could have more room to grow.
What’s Next for XRP?
If buying pressure keeps up, XRP could break past its all-time high of $3.28, a milestone it hasn’t hit since January 2018.
That said, the market can change fast. A shift in sentiment or increased selling pressure could send XRP back below $3, with $2.60 acting as a key support level.