XRP Price Could Sustain Its Rally Within The Rising Channel

The XRP price has been trading within an ascending channel on the 12-hour timeframe. The Ripple token price surged dramatically in late 2024

This article does not mention XRP despite being the 3rd largest cryptocurrency by market cap (excluding Tether as a stable coin). I’m surprised considering XRP is one of the few cryptocurrencies to finish December trading in the green.

I don’t do price predictions but Barron’s recently… https://t.co/scamKncLKT

— John E Deaton (@JohnEDeaton1) January 1, 2025

The XRP price showed remarkable resilience throughout 2024, defying the bearish sentiment that plagued the broader cryptocurrency market. As the year came to a close, XRP managed to finish December in the green, a rare feat among the top cryptocurrencies.

Despite this impressive performance, there was a surprising lack of attention given to XRP in the mainstream financial press. For instance, a recent article by Barron’s, which highlighted the best-performing cryptocurrencies of 2024, failed to mention XRP.

This omission is particularly noteworthy given XRP’s 3rd place ranking among cryptocurrencies by market capitalization (excluding Tether, the largest stablecoin). This omission may reflect the ongoing legal battle between Ripple Labs, the company behind XRP, and the U.S. Securities and Exchange Commission (SEC).

The SEC filed a lawsuit against Ripple in December 2020, alleging that the sale of XRP constituted an unregistered securities offering. Ripple has maintained that XRP is a digital asset and not a security.

The outcome of this lawsuit will have significant implications for the future of XRP and other cryptocurrencies. If the court rules in favor of the SEC, it could set a precedent for treating many other cryptocurrencies as securities, which would be subject to stricter regulations.

On the other hand, a victory for Ripple could provide clarity on the regulatory status of XRP and pave the way for broader institutional adoption.

As we await the verdict in this pivotal case, it remains to be seen whether XRP will continue to outperform the market in 2025 and finally gain the mainstream recognition it deserves.