NewsletterWhy Is XRP Going Up? Expert Insights on the Surge and Price Prediction
Highlights
- Crypto analysts have explained why the XRP price has surged this week.
- They cite the recent swearing in of Paul Atkins as the SEC chair.
- Analysts also cite its strong technicals, including its inverse head and shoulders.
The XRP price is rising, joining other cryptocurrencies, which have all turned green today. Ripple spiked to $2.30 on Wednesday, its highest level since March 28, and 45% higher than its April low. It has soared by 350% from its lowest level in 2024.Crypto analysts cite its strong technical patterns, a recent statement by Teucrium CEO, and Paul Atkins swearing in as the new head of the SEC.
Crypto Experts Explain the Ongoing XRP Price Surge
XRP price rose as the crypto market boomed after Donald Trump said that he would not fire Jerome Powell. He also expressed hopes that the US will reach a trade deal with China, eliminating the recent tariffs.
Crypto pundits also identify an interview in which Teucreum CEO said that XRP was the only coin with a real utility. He argued that its role to become a SWIFT rival and Hidden Road acquisition will stimulate more utility. More so, the expert hailed the entry of Atkins at the SEC as a top catalyst. This statement came after his company’s recently launched The Teucrium 2x Long Daily XRP ETF reached $34 million in assets.
In a separate note, he credited the rally to the swearing-in of Paul Atkins as the new head of the SEC. He takes over from Gary Gensler, an official who focused on filing lawsuits against crypto companies, including Ripple Labs.
Meanwhile, Ali Martinez, a crypto analyst with thousands of followers, noted that XRP price had created an inverse head and shoulders pattern on the hourly chart. He expects that the coin will surge towards the resistance at $2.70.
Another key theme is the upcoming approval of the XRP ETF, which is expected to result in substantial inflows. JPMorgan analysts estimate that these funds will accumulate over $8 billion in inflows in the first 12 months.
Ripple Price Prediction and Technical Analysis
Technicals suggest that the XRP coin price may be ready for a strong bull run. It has formed an inverse H&S pattern on the four-hour chart. Also, it has now jumped above the neckline, confirming the bullish breakout. It has also retested the 50% Fibonacci Retracement level at $2.30.
Additionally, trend and momentum indicators signal that the bullish momentum is intact. For example, the Directional Movement Index (DMI) has jumped to 40. This is a popular indicator used to measure the strength of a trend.
Therefore, the value of XRP will likely keep soaring as buyers target the 78.6% retracement level at $2.70, which is about 20% above the current level.
A drop below the neckline of the inverse H&S pattern at $2.2 will cancel the bullish outlook as it will mean that there are more sellers in the market.
Frequently Asked Questions (FAQs)
1. What are analysts saying about the rising XRP price?
2. How high can the Ripple token price get?
3. Can XRP hit $10 in 2025?
- Ripple Dev Floats Idea Of Native XRP Staking Following ETFs Launch
- Donald Trump Says He Has His Pick to Replace Fed Chair Jerome Powell
- Barstool’s Dave Portnoy Buys Bitcoin, Ethereum, and XRP Following Crypto Crash
- Breaking: Banking Regulator OCC Greenlights Banks To Hold BTC, ETH, SOL, XRP For Gas Fees
- December Fed Rate-Cut Odds Rise Above 50% on Weak Jobs Reports
- Solana Price Prediction – Will the ETF Wave End SOL’s Multi-Week Downtrend?
- Ethereum Price Forms Rare Pattern as Tom Lee Makes Bold Prediction
- Is Dogecoin Price Set for a Recovery as Grayscale ETF Speculation Intensifies?
- Will MOODENG Reach $0.1 and MEW Hit $0.002 After Robinhood Listing?
- What’s Next for Cardano Price After Breaking Below Key Support Level?
- Pi Coin Price Could Jump 30%, But There’s a Catch
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
