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Home.forex news reportWhy is XRP Going Up? Binance Receives 40 Million XRP in Crypto...

Why is XRP Going Up? Binance Receives 40 Million XRP in Crypto Transfer

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Whale Alert, a service tracking significant cryptocurrency
transfers, reported a large XRP transaction involving Binance. The monitoring
platform revealed that 40,000,000 XRP, valued at approximately $124,788,255,
was deposited into Binance. The transfer originated from an unidentified
blockchain address.

In parallel, XRPUSD has shown bullish momentum on the hourly
chart. As of this report, XRP is trading near a significant resistance level,
with minor intraday charts indicating a potential breakthrough.

XRPUSD Bullish, Approaching Key Resistance

XRPUSD has shown bullish behavior on the H1 chart today. The
2.91800 level has acted as support. After forming a bullish engulfing candle,
the price has gained upward momentum. It is currently trading around 3.33700, a
level where the price has previously reacted multiple times.

A breakout with confirmation at this level could attract
more buyers and drive the price further upward. Intraday minor charts have also
been bullish, creating strong support zones, suggesting that traders may enter
long positions from these value areas.

Ripple’s XRP Donation, Legal Battle, and Partnership with
Chainlink

Ripple, the company behind XRP, recently gained attention as
CEO Garlinghouse and Chief Legal Officer Alderoty attended
a private dinner with President-elect Donald Trump on January 6
.
Garlinghouse described the meeting as a positive start to 2025, fuelling
speculation regarding Ripple’s ongoing legal battle with the US Securities and
Exchange Commission (SEC).

In another development, Ripple
made a $100,000 donation in XRP to support communities
affected by the
wildfires in California. The donation, directed to World Central Kitchen and
GiveDirectly, aims to provide immediate relief and long-term rebuilding. This
initiative was made through The Giving Block, a platform for crypto
philanthropy.

The
SEC filed an appeal on January 15, 2025
, challenging a federal court’s
decision in its case against Ripple Labs. The appeal disputes the New York
District Court’s ruling, which classified XRP sold to retail investors as
non-securities. The SEC seeks to overturn Judge Analisa Torres’ July 2023
decision and argue that XRP issued as employee compensation and in business
transactions should be considered securities.

Ripple is also making progress in its expansion in Japan,
where all banks are expected
to adopt Ripple’s XRP Ledger in 2025
. This integration, announced by SBI
CEO Yoshitaka Kitao, aims to enhance cross-border payments and currency
conversions, providing a more efficient solution for international remittances.

Additionally, Ripple
has partnered with Chainlink to expand its presence
in decentralized
finance (DeFi). The collaboration integrates Ripple’s RLUSD stablecoin with
DeFi applications on the Ethereum blockchain, enabling trading and lending.

Why is XRP Going Up Today?

Several factors have contributed to the price increase,
including speculation about a shift in the SEC’s stance under Trump, potential
approval of XRP spot ETFs, and the launch of Ripple Labs’ RLUSD stablecoin.
Technical analysis shows key support levels around $2, $2.25, and $2.50.

What Could XRP’s Price Be in 2025?

XRP price forecasts for 2025 vary. Conservative estimates
place it between $1.35 and $2.50, while some analysts, like Levi Rietveld,
suggest a range of $20–23. Optimistic predictions reach as high as $70.

Is $500 Realistic for XRP?

A $500 price for XRP seems unlikely in the near term, as it
would require a $26 trillion market cap. More realistic estimates suggest a
range of $15–25 by 2030. Grok AI believes $500 could be possible post-2030 with
global payment adoption.

Does XRP Have Long-Term Potential?

XRP has potential, especially in fintech, given its role in
cross-border payments and increasing partnerships in Asia, Africa, and Latin
America. By 2027–2028, further integration into traditional finance may take
place.

This article was written by Tareq Sikder at www.financemagnates.com.



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