XRP Gains Momentum in the Australian Market
XRP continues its upward trend, reaching A$3.89 today and Ripple Moves 200M Coins Amid SEC Speculation. This marks a 6.8% increase in the last 24 hours and a 4.7% rise over the past week. The total 24-hour trading volume reached A$6.09 billion, reflecting strong investor interest.
The cryptocurrency’s steady climb follows a week of volatility. XRP traded as low as A$3.23 on Tuesday before recovering sharply. In the last 14 days, its value has risen 10.5%. However, over the past 30 days, XRP remains down by 1.3%. Despite short-term fluctuations, its annual growth remains impressive at 303.3%.
Figure 1: XRP’s performance in the last 24 hours [CoinGecko]
Strong Buying Pressure Drives XRP Higher
Traders and investors have shown renewed confidence in XRP, driving prices higher. The buying pressure intensified after reports of a major transaction involving 200 million XRP. This movement, worth approximately US$457 million, has fueled speculation about Ripple’s next move.
Such large transactions often indicate institutional involvement or strategic repositioning by key stakeholders. Whale Alert (@whale_alert) flagged this transfer, sparking market discussions. While Ripple frequently releases XRP from its escrow holdings, the timing of this transaction has led some to question whether a bigger development is on the horizon.
SEC Case Settlement Could Be Imminent
The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) remains a key market driver. Sources suggest that Ripple is negotiating a settlement, which could significantly impact XRP’s market value.
A previous court ruling fined Ripple US$125 million and limited its ability to sell XRP to institutional investors. Traders are closely monitoring developments, as a favorable resolution could further boost XRP’s momentum.
Market analysts believe XRP has already completed its price correction. Some expect the token to reach US$2.42 in international markets before pushing higher. “Once XRP’s price emerges from the Ichimoku clouds, it is expected to hit higher highs,” analysts say.
XRP’s Weekly Performance Shows Strength
XRP’s price action has been volatile but mostly positive. Over the past week, its highest value was A$3.89 today, while its lowest point was A$3.23 on Tuesday.
The largest 24-hour price drop occurred on Monday, when XRP fell by 8.1%. However, strong buying pressure reversed the trend, leading to consecutive daily gains.
XRP’s Weekly Price Changes:
- Saturday (Today): A$3.89 (+6.8%)
- Friday: A$3.58 (+1.0%)
- Thursday: A$3.54 (+2.9%)
- Wednesday: A$3.45 (+6.6%)
- Tuesday: A$3.23 (-4.6%)
- Monday: A$3.39 (-8.1%)
- Sunday: A$3.69 (-2.3%)
XRP Conversion Rates for Australian Traders
For investors looking to convert XRP to Australian dollars, the current rate stands at A$3.89 per XRP.
XRP to AUD Conversion:
- 5 XRP = A$19.46
- 10 XRP = A$38.92
- 50 XRP = A$194.62
- 100 XRP = A$389.24
- 1000 XRP = A$3,892.44
Conversely, one Australian dollar buys approximately 0.26 XRP at the current market rate.
What’s Next for XRP?
XRP’s strong performance suggests continued bullish sentiment. The market is waiting for a resolution in Ripple’s legal battle, which could significantly impact its future valuation.
If positive news emerges, XRP could push beyond A$4 and challenge new resistance levels. However, traders remain cautious, as regulatory uncertainty still looms over the cryptocurrency.
For now, XRP’s trajectory remains upward, with investors closely watching Ripple’s next move.
