XRP price pumped over 8% in the last 24 hours, making it one of the top crypto gainers today. Ripple’s token broke previous 2024 yearly high and is now trading around $2.8.
Market data shows significant accumulation patterns from large XRP holders. Santiment reported that wallets holding between 1 million and 10 million XRP have substantially increased their positions, accumulating approximately $3.8 billion worth of XRP since November 12, 2024. This represents a 37% increase in their holdings over the past two months.
The cryptocurrency market is closely watching the SEC’s next move, as today, January 15, 2025, marks the deadline for the regulatory body to file its opening brief. This has sparked increased market activity and investor attention around XRP.
The community remains split on the potential outcome – while some speculate the SEC might abandon the appeal, others anticipate continued legal proceedings. Regardless of expectations, these discussions have contributed to XRP’s recent market momentum. Some XRP supporters suggest that potential leadership changes at the SEC could work in Ripple’s favor.
🐳📈 XRP investors are pleased to see the #3 market cap asset reach $2.69 today for the first time since December 17, 2024. This is being supported by continued enormous accumulation from wallets holding 1M-10M XRP, who own over 37% more coins than they did 2 months ago… pic.twitter.com/G3a3N5iSAS
— Santiment (@santimentfeed) January 14, 2025
XRP Price Forecast for Tomorrow
The current price movement shows XRP trading at $2.76, with key technical levels worth noting. The $2.3 mark has emerged as a crucial support level, where buyers have consistently stepped in during recent pullbacks. On the upside, the $2.8 – $3.0 range represents significant resistance, with several previous attempts to break through this zone.
Looking ahead to January 16, XRP’s price action will likely be heavily influenced by the SEC’s decision. Based on the technical analysis and the SEC decision’s potential impact, XRP could test the $3 resistance level if positive sentiment around the SEC brief filing (or lack thereof) continues. The XRP price actually “touched” $3 mark for the first time since 2018 today.
However, profit-taking around the current resistance zone ($2.8 – $3) might cap the upside, suggesting a likely trading range between $2.76 and $3 for January 16, with stronger moves possible depending on the SEC’s actions.
Read also: Analyst Says Next XRP Price Move Will ‘Shock’ People – Here’s Why
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