Ripple’s native cryptocurrency, XRP, is riding a wave of renewed investor confidence following a series of positive developments. The latest boost comes from Arkham Exchange, which announced on December 13 that it has officially listed XRP for both spot and perpetual trading pairs. The listing has not only drawn significant attention from market participants but also underscored the growing institutional interest in XRP.
Following the announcement, Arkham Exchange declared, “XRP TRADING IS NOW LIVE,” signaling its strong support for the token. This move coincides with XRP’s recent robust performance, which saw its price climb approximately 6% to $2.46, alongside a notable trading volume increase of 10%, reaching $10.29 billion. Market watchers are particularly impressed with XRP’s ability to hit a 24-hour high of $2.52 and achieve a staggering 250% monthly gain.
Additionally, CoinGlass data reveals a 13% surge in XRP Futures Open Interest, highlighting heightened trader enthusiasm. The ongoing rally reflects broader market sentiment favoring Ripple’s token, especially as it continues to demonstrate resilience amid legal and regulatory challenges.
Legal and Regulatory Developments Shape Ripple’s Future
Ripple remains in the spotlight as the January 15, 2025, deadline for the principal brief in its case against the U.S. Securities and Exchange Commission (SEC) approaches. While the SEC’s outgoing Chair Gary Gensler may pose further challenges before his departure, market participants remain cautiously optimistic.
In a parallel development, plaintiffs in a class-action lawsuit against Ripple Labs have filed appeals with the Ninth Circuit Court, challenging earlier district court rulings in Ripple’s favor. Despite these legal headwinds, the crypto community appears unfazed, with XRP continuing to rally on the back of positive market news.
What’s Next for XRP?
Adding to the bullish sentiment is the New York Department of Financial Services (NYDFS) approval of Ripple’s stablecoin, RLUSD. This milestone has sparked speculation about a potential XRP ETF approval in the United States, which could further cement the token’s standing in global markets.
As market analysts project a potential rally to $3 by this weekend, investors are closely watching XRP’s next moves. Ripple’s ongoing legal battles, coupled with strategic developments like the Arkham Exchange listing and the introduction of RLUSD, are reshaping its narrative.
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