- XRP’s institutional buying surged 266%, reflecting increased investor confidence and the potential for a future bull run.
- Ripple’s legal battle with the SEC continues to influence market sentiment, but favorable court rulings have boosted optimism around XRP’s growth.
Amid the legal battle between Ripple and the SEC, XRP has seen an impressive 266% surge in institutional purchases. Last week, investments rose to $1.1 million, a substantial jump from $0.3 million the week before. This positive movement is particularly important after the XRP Signals Potential Rally After 6-Year Stagnation we discussed recently in a previous CNF post.
At the moment, this upward trend signals growing confidence in XRP’s potential, especially in light of Ripple’s recent favorable court rulings. As investor optimism rises, XRP’s price has edged up by 1% to around $0.54, while trading volume soared by 45%, highlighting increased market activity.
Ripple vs. SEC: Legal Proceedings Driving Market Sentiment
Reiterating another CNF update on Gensler’s last-day appeal tactic, we also discussed “What’s the SEC Planning?” Ripple’s ongoing legal tussle with the SEC has sparked both concern and optimism. As the company gears up for appeals in the Second Circuit Court, the SEC’s decision to contest a prior ruling—reducing Ripple’s fine from nearly $2 billion to $125 million—has drawn criticism.
Ripple CEO Brad Garlinghouse argues that the SEC’s actions reflect regulatory overreach. Legal experts have noted inconsistencies, particularly in how the SEC approaches XRP compared to Ethereum, fueling debate over the fairness of current regulatory frameworks.
Is an XRP Bull Run on the Horizon?
Despite market challenges, XRP has maintained a stable trading range, fluctuating between $0.50 and $0.64. Historically, XRP has shown its potential for massive price increases, including a 41,000% surge after Bitcoin’s 2016 halving and a 1,000% gain during the ongoing SEC case.
According to CoinMarketCap data today, Ripple (XRP) is trading at $0.5486, up 3.52% in the past day and 3.15% in the past week. See XRP price chart below.
With approximately 66 days left until a potential market shift, some analysts anticipate a significant bull run for XRP. However, Ripple’s continued legal battles and regulatory scrutiny could still impact its long-term trajectory.