XRP's price is experiencing an uptick today, driven by a combination of market sentiment and technical factors. The cryptocurrency market has been buoyed by reports that President-elect Donald Trump's economic team is considering a strategic approach to trade tariffs, which has improved sentiment across risk-on assets, including digital currencies. This broader market optimism has contributed to XRP's upward momentum, as it aligns with the positive trend seen in other major cryptocurrencies like Bitcoin and Ethereum.
Additionally, the anticipation surrounding the SEC's January 15th deadline for filing an appeal in the Ripple case is influencing XRP's price. Speculation that the SEC might not proceed with the appeal has led to significant net outflows of XRP from major exchanges, indicating investor confidence in a favorable outcome for Ripple. This legal uncertainty, coupled with Ripple's recent strategic acquisitions aimed at expanding XRP's role in global finance, has further fueled bullish sentiment.
XRP is currently trading at $2.57, reflecting a 1.93% increase from its previous close of $2.52.