XRPUSD Bullish, Approaching Key Resistance

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.

Whale Alert, a service that tracks significant cryptocurrency transfers, has reported a large XRP transaction involving Binance. According to the monitoring platform, 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 breakout.

XRPUSD Bullish, Approaching Key Resistance

On the H1 chart, XRPUSD has shown bullish behavior 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

Moreover, XRP price has shown resilience at the $2.50 support, bouncing off this level and attempting to regain higher ground. A shift in the SEC's stance under Trump, potential approval of XRP spot ETFs, and the launch of Ripple Labs’ RLUSD stablecoin are among the factors contributing to the price increase.

With technical analysis indicating key support levels around $2, $2.25, and $2.50, traders may anticipate potential buying opportunities at these price points.

Among the recent developments, the SEC filed an appeal on January 15, 2025, to challenge a federal court's decision in its case against Ripple Labs. The appeal aims to dispute the New York District Court's ruling, which classified XRP sold to retail investors as non-securities.

The SEC argues that XRP issued as employee compensation and in business transactions should be considered securities, and it will attempt to convince the court to overturn Judge Analisa Torres' July 2023 decision.

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