XRP hits 7-year high as optimism outweighs SEC appeal concerns
XRP reached a seven-year high of $3.20 on January 15, 2024, driven by optimism regarding emerging crypto regulations despite the SEC's appeal against a ruling that deemed XRP sales to retail investors as non-securities. XRP's price increased over 32% weekly, reflecting favorable outcomes in Ripple Labs' legal battles and a more crypto-friendly political climate in the U.S. Investor sentiment is buoyed ahead of President-elect Donald Trump's inauguration, which may bring regulatory clarity and potential approval for XRP exchange-traded funds (ETFs). Estimates suggest that an approved XRP ETF could attract $3 billion to $6 billion in investments. Analysts predict XRP could reach $14 by 2025, supported by a bullish pennant formation indicating continued upward momentum.
