XRP News: SEC Intensifies Appeal in Ripple Lawsuit with Support from Better Markets

The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has taken a significant turn in January 2024. The SEC has ramped up its efforts to appeal a 2023 court ruling that favored Ripple, with the non-profit organization Better Markets backing the SEC's claim that XRP should be classified as a security. This development marks a critical moment in the lawsuit, which has been ongoing since 2020 and has seen multiple twists and turns, including partial victories for Ripple. The SEC's first opening brief in its appeal against the court decision regarding XRP sales has sparked widespread speculation among analysts about the potential implications for Ripple and the broader cryptocurrency market.

Ripple v. SEC Lawsuit: Here’s What Happened in January

The SEC has intensified its appeal against the 2023 court ruling that favored Ripple, with the non-profit organization Better Markets supporting the SEC's stance that XRP is a security. The lawsuit, which began in 2020, has seen numerous developments and partial victories for Ripple. January 2024 brought key updates, including the SEC's first opening brief in its appeal against the court decision regarding XRP sales. Analysts are speculating on potential outcomes that could favor Ripple, especially with pro-crypto Mark Uyeda replacing Gary Gensler at the SEC.

We Asked DeepSeek if Ripple (XRP) Can Hit New All-Time High This Year

XRP has been one of the top performers in 2024, and the start of 2025 was promising as it came close to its all-time high of $3.4. However, it has since retraced, and the question now is whether it can reach new highs this year. The daily chart shows that XRP was stuck below $1 for years, trading within a tight range between $0.35 and $0.6. The token's value exploded after the US elections and the announcement of Gary Gensler's departure from the SEC, which sent XRP further north.

XRP Holders Cross 6 Million As Retail Shows Fastest Adoption Rate Ever

On-chain data indicates that the adoption rate of XRP has recently accelerated, primarily driven by an influx of retail-sized investors into the network. The 'Total Amount of Holders' metric, which tracks the number of addresses with a non-zero balance, has shown a sharp increase. This growth suggests new investors are entering the market or previous investors are returning. Additionally, existing users may be creating new addresses for privacy purposes. The overall trend highlights a significant rise in XRP's adoption among retail investors.

XRP Price Prediction – Assessing if Altcoin Will Hold on to $2.9 or Not

XRP has shown a short-term bearish outlook following a rejection at $3.2. A retest of the $2.95 level is anticipated, which could potentially lead to a bullish reversal from the range lows. The XRP Ledger's recent upgrade, the AMMClawback amendment, aims to enhance regulatory compliance for AMM pools, providing a positive development for the network. Despite price struggles, buyers are expected to defend the $2.9-$2.95 demand zone. A recent analysis highlighted the $3.2 level as a significant resistance point for bulls, which was confirmed by a rejection from $3.15 on January 30. The market is now observing whether XRP will repeat its December range formation, which saw a strong surge.