Why Is Crypto Rising Today? XRP Price Aiming For $5 Sooner Than Anticipated?
The XRP price has been soaring past resistance, increasing 27% over the month and approaching $2.40.
The momentum is rapidly escalating, driven by favorable legal developments, trading platform activity, and a surge of retail excitement. Here’s the next direction for the XRP price.
Dollar Weakness Fuels XRP Pump
Ripple has successfully concluded its dispute with the SEC, opting for a $50 million settlement rather than the $2 billion penalty sought by the agency.
This agreement has unleashed tremendous momentum
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, propelling the token up to $2.40. For the time being, it appears Ripple has emerged from the shadows and is back to construction.
THE SEC vs. @Ripple TRIAL HAS CONCLUDED
— John Squire (@TheCryptoSquire) May 8, 2025
Moreover, as the dollar declines, XRP climbs, alongside other risk assets.
An 8% fall in USD strength has shifted the advantage toward assets that do more than remain stagnant. XRP is attracting investment that’s escaping fiat and pursuing functionality.
XRP: Technical Indicators Suggest More Gains Ahead
In recent weeks, Ripple also acquired Hidden Road, a brokerage that processes $10 billion in trades each day.
Technical analysis further supports a positive outlook. XRP has recently surpassed a descending channel and regained essential support at $2.28. Indicators like the Relative Strength Index (RSI) at 62.03 and a uptrend Moving Average Convergence Divergence (MACD) signal are showing increasing momentum.
If the momentum persists, XRP could be aiming for resistance at $2.72, with a potential upward movement towards $3.40—a new annual peak.
However, enthusiasm comes with risks. Regulatory challenges, economic instability, and the complexity of integrating Ripple’s latest acquisition could hinder the rally. Nevertheless, the utility is substantial, and the achievements are accumulating.
EXPLORE: XRP Price Rises 11% After SEC Crypto Unit Hints at XRP ETF Progress
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Key Takeaways
- XRP has been soaring past barrier level, increasing 27% over the month and now nearing $2.40.
- Momentum is rapidly developing, driven by legal price floor, trading network activity, and a surge of retail interest. Here’s where the XRP price is headed next.
- At present, the discussion around XRP’s role in the future of America’s finance is just getting started.
The post Why Is Crypto Up Today? XRP Price Set to Reach $5 Sooner Than Anticipated? appeared first on 99Bitcoins.
