XRP Poised for Surge Amid Growing Market Momentum
Ripple’s native token XRP could be on the verge of a significant rally, fueled by bullish sentiment, favorable market conditions, and a wave of upcoming developments.
At the current price of $2.37, having fallen 2.18% in the last day but going up 50% since April, many traders and analysts think XRP may soon reach its all-time high of $3.3517.
There is a rapid rise in the levels of confidence on the Polymarket platform. The chances of XRP returning to its all-time high rose to 44% on May 23, compared with just 24% early in the month. After Bitcoin hit a record high, climbing over $109,000, optimism rose in the wider crypto sector.
XRP Eyes Breakout Amid Bullish Sentiment
Prominent crypto analyst Credible Crypto also mentioned that XRP is copying the path of Bitcoin seen in history. “I am not concerned about the chop/consolidation we see in $XRP at around $2,” he stated on Twitter. “The reason for a bigger move up is that we have been in a tight range for so long.”
In this way, he believes XRP could match Bitcoin’s wave from $25,000 to $74,000, signaling a bullish move ahead for the currency.
The rise in how crypto is viewed also comes from potential approval of exchange-traded funds (ETFs) for XRP by the U.S. Securities and Exchange Commission (SEC). Polymarket experts give a 85% chance that the US will ratify the UNSC Resolution in 2025.
Analysts from JPMorgan believe these ETFs may attract between $4 billion and $8 billion in the first year. The XXRP fund has managed to collect more than $121 million despite its high expenses at 1.89%.
Ripple is also said to be in talks about acquiring Circle, which manages the USD Coin (USDC) stablecoin. If successful, Ripple would become the second largest of the stablecoin providers, with Tether leading the field. This action may also help boost Ripple USD, Ripple’s own stablecoin that was launched last year.
XRP Breakout Possible as Support Holds
Another factor supporting this viewpoint is that institutions are adopting crypto. Sources say that Hidden Road, which processes over $10 billion in transactions per year, is now managing its operations on the XRP Ledger. When XRP and the FTX platform are closely linked, XRP’s activity is expected to climb and its prices could move upward.
Technically, XRP is still displaying strong signs. The token holds above its 50-week exponential moving average, which has been a crucial support since early November 2024. It also breached a significant resistance zone and that zone has since flipped to become support, indicating a reversed motion.
Analyst Dark Defender explained in a recent post on X (formerly Twitter) that XRP is poised to reach $3.33 in the near term and after that, it should ‘fire the bullet’ and flatten out at $5.85.
Strong signals, stable foundations, and expanding institutional attention might result in a big movement soon. Right now, everyone interested in cryptocurrencies is waiting to see if XRP can get past its previous highs.
