"Ripple (XRP) Has Been One of the Hottest Cryptos"

Trading below $1 for most of 2024, XRP hits its stride days after the November elections, breaking the $1 level

U.S. President Donald Trump’s reelection had a positive impact on several cryptos, especially Ripple’s XRP, which has been one of the hottest tokens in the market.

U.S. President Donald Trump’s reelection had a positive impact on several cryptos, especially Ripple’s XRP, which has been one of the hottest tokens in the market.

After trading below $1 for most of 2024, XRP hit its stride days after the November elections, breaking the $1 level on November 6th, and the $2 barrier by December 2nd, then surging past $3.30 on January 18th.

However, the cryptocurrency is now back in the news for a different reason. A recent report from Whale Alert has shown that Ripple moved 200 million XRPs, valued at around $457 million. This massive transfer, often associated with “whale transactions,” caught the attention of many and has led many to speculate.

Is The SEC-Ripple Case Nearing Its Settlement?

The latest XRP transfer was spotted by Whale Alert (@whale_alert) and later shared on X.

456,700,000 XRPs (≈ $457,034,900) moved from Coinbase Pro to unknown wallet

This latest transaction comes as the SEC’s case against Ripple is nearing its settlement. According to some reports, the delay in the case’s resolution is caused by Ripple’s efforts to negotiate a favorable settlement.

One controversial issue in the case is the August district court ruling, which fined Ripple $125 million and restricted the company from selling its native token to institutional buyers.

After the ruling, the SEC announced an appeal against the decision, aiming to overturn the ruling that restricts the agency from instituting a claim for injunctive relief.

XRP’s Price Roadmap

As Ripple continues its negotiations with the SEC, investors and traders are actively watching the token’s market performance. According to some analysts, the token has already completed its price correction using a four-hour time frame.

As Ripple continues its negotiations with the SEC, investors and traders are actively watching the token’s market performance. According to some analysts, the token has already completed its price correction using a four-hour time frame.

There are plenty of price predictions for XRP, with some commentators saying it can initially hit $2.42 before making a run. Once XRP’s price emerges from the “Ichimoku clouds”, it is expected to hit higher highs.

Currently, the token’s support is at $2.04 and $2.22, and many expect XRP to face short-term volatility. However, the token’s biggest push will come from a favorable resolution of its SEC case and if it happens, analysts expect the price to reach $4.25, or even $5.80.