{"id":20386,"date":"2025-01-16T17:38:34","date_gmt":"2025-01-16T15:38:34","guid":{"rendered":"https:\/\/forklog.com\/en\/xrp-hits-seven-year-high-on-several-major-exchanges\/"},"modified":"2025-01-16T17:38:34","modified_gmt":"2025-01-16T15:38:34","slug":"xrp-hits-seven-year-high-on-several-major-exchanges","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/xrp-hits-seven-year-high-on-several-major-exchanges\/","title":{"rendered":"XRP hits seven-year high on several major exchanges"},"content":{"rendered":"

On January 16, Ripple\u2019s XRP neared its $3.4 ATH<\/span> on Bitfinex, Kraken and Binance for the first time since January 2018.<\/p>\n

Amid a rapid price surge (+16% over 24 hours), open interest in XRP futures hit a record $7.7bn.<\/p>\n

\"XRP
Data: Coinglass.<\/figcaption><\/figure>\n

At the time of writing, the asset trades around $3.32. Its market capitalisation is $190.9bn, according to CoinGecko<\/a>. Over the week, the coin has gained nearly 45%.<\/p>\n

\"XRP
30-minute XRP\/USD chart on Binance. Data: TradingView<\/a>.<\/figcaption><\/figure>\n

The latest rally came as the SEC<\/span> appealed a court ruling in the Ripple Labs case. The lawsuit has been ongoing since December 2020, when the regulator accused the company of selling $1.3bn of unregistered securities.<\/p>\n

In July 2023 the court held that programmatic sales and other distributions of XRP did not constitute the offer and sale of investment contracts. However, that did not cover more than $700m of institutional purchases.<\/p>\n

The SEC now intends to challenge its partial loss.<\/p>\n

Investor concerns triggered by the appeal were outweighed by optimism about the policy climate for cryptocurrencies in the United States, argues<\/a> Bitget Research chief analyst Ryan Lee. According to him, institutional adoption of the RippleNet payments network has also enhanced the asset\u2019s market appeal.<\/p>\n

\n

“If regulatory uncertainty is removed, an inflow of institutional investors could further strengthen XRP\u2019s position in the cryptocurrency market,” Lee added.<\/p>\n<\/blockquote>\n

Earlier, Santiment analysts said that large-scale whale purchases were the main driver of the token\u2019s rise.<\/p>\n

In December 2024, Ripple received approval<\/a> to launch trading in the RLUSD stablecoin.<\/p>\n","protected":false},"excerpt":{"rendered":"

On January 16, Ripple\u2019s XRP neared its $3.4 ATH on Bitfinex, Kraken and Binance for the first time since January 2018. Amid a rapid price surge (+16% over 24 hours), open interest in XRP futures hit a record $7.7bn. Data: Coinglass. At the time of writing, the asset trades around $3.32. Its market capitalisation is […]<\/p>\n","protected":false},"author":1,"featured_media":20385,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1168,112,128],"class_list":["post-20386","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crypto-derivatives","tag-ripple","tag-sec"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/20386","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=20386"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/20386\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/20385"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=20386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=20386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=20386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}