#XRPRealityCheck #expectations #like_comment_follow As lawyer weighs in on SEC's appeal against Ripple, XRP experiences heavy purchasing pressure
XRP's resiliency against the crypto market fall was boosted by retail and institutional investor purchases
In litigation, SEC's delay in submitting opening brief in appeal over Ripple versus SEC judgment is customary
XRP might reach a record high over $4.50 but hits resistance around $2.90.
XRP investors buy as lawyer clarifies SEC appeal
CoinShares data shows $41 million inflows into XRP investment products worldwide last week.
Top exchange XRP net outflows boost price performance. Unlike crypto ETFs, exchange outflows indicate bullish momentum and vice versa for declines. In the previous week, Binance, Bybit, and OKX had $82 million, $63 million, and $59 million XRP outflows. Coinbase reported over $65 million in inflows from US-based XRP investors, suggesting caution.
The SEC has until January 15 to submit its opening brief for its appeal of Judge Analisa Torres's final verdict in the Ripple versus SEC case.
In a Monday X post, Fagel said that attorneys often postpone submitting briefs until the deadline
"In 30 years of litigation, the number of times I saw a lawyer (private or public sector) file a brief before it was due was roughly zero," said Fagel.
Even if the SEC submits a brief on January 15, a new administration might decide to reject the appeal, but it would be a "highly unusual move
After Donald Trump's inauguration, SEC Chair Gary Gensler and Commissioner Caroline Crenshaw will leave on January 20.
According to Coinglass, XRP futures liquidations totaled $20.83 million in the preceding 24 hours, with long contracts liquidated for $13.55 million and short ones for $7.28 million.
XRP might go over $3.55 to a new all-time high above $4.5 in the coming weeks if it maintains the breakout and keeps the pennant's upper border as support.
However, it must overcome $2.90 resistance, its highest price in six years.
XRP may challenge its lower boundary support line at $2.00 if it falls into the pennant updates
$XRP