XRP News: Significant Price Surge and Strategic Reserve Plans Fuel Optimism

PHNIX: The Memecoin Rising with XRP on XRPL

Recently, XRP has seen a significant price surge, moving from around $0.45 to over $2.40 in just a few days. This uptrend is partially attributed to the pro-crypto stance of the new U.S. administration and Ripple, the company behind XRP, being American. There have even been plans to include XRP in a Crypto Strategic Reserve, which has further fueled the price increase. PHNIX has emerged within this positive environment for XRP, a cryptocurrency known for its resilience despite challenges such as the prolonged SEC lawsuit. Like a phoenix rising from the ashes, XRP has repeatedly demonstrated its ability to bounce back from adversity.

$XRP Price and Accumulation Rises After SEC Drops Case

XRP has seen a significant increase in value and accumulation, decoupling from the wider altcoin sector. The price of XRP has surged 14% in the past 24 hours following news that the U.S. SEC has dropped its appeal against Ripple. This upsurge has also helped XRP breach the $2.50 resistance level for the first time in 12 days. Wallets holding at least 1M XRP now hold 46.4B coins, accumulating 6.5% more in just the past 2 months.

XRP Could Reach New All-Time High After Ripple’s Legal Victory

XRP has surged after the U.S. Securities and Exchange Commission (SEC) officially dismissed its lawsuit against Ripple. The announcement fueled a 14% XRP price jump within 24 hours. The rally is backed by strong technical momentum and increased buying activity, while XRP’s network activity has also reached record highs. A critical technical indicator, the Directional Movement Index (DMI), indicates buyers are in control. The Average Directional Index (ADX) has risen from 15.64 to 20.4, meaning that the current trend is gaining strength.

Ripple v. SEC Lawsuit Update: SEC Drops Appeal, But Legal Matters Remain

The SEC has dropped its appeal in the lawsuit against Ripple, seemingly marking the end of the four-year court battle. However, certain legal matters remain unresolved, and lawyers debate whether Ripple should appeal its $125M fine, with some warning it could be a risky move. Ripple’s CEO, Brad Garlinghouse, announced the news, stating that the case is over, triggering excitement among XRP users. Some legal experts noted that the lawsuit has technically not yet been fully resolved.