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 unidentifiedblockchain 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.
???? ???? ???? ???? ???? 40,000,000 #XRP (124,788,255 USD) transferred from unknown wallet to #Binancehttps://t.co/RP256hHvki
— Whale Alert (@whale_alert) January 20, 2025
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.
Ripple is donating $100,000 in XRP through @TheGivingBlock to @WCKitchen and @GiveDirectly to aid in wildfire relief efforts in California. Thanks to @rookisaacman, our donation will be doubled. You can help families and first responders too. Your crypto, cash and stock…
— Ripple (@Ripple) January 14, 2025
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.
.@Ripple x @Chainlink: $RLUSD has adopted the Chainlink standard for verifiable data to fuel DeFi adoption with real-time, secure pricing data. The future of stablecoins is here: https://t.co/mq3cThLGQJ pic.twitter.com/993Ac0o282
— Ripple (@Ripple) January 7, 2025
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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