Price Analysis

Why Is XRP Going Up? Expert Insights on the Surge and Price Prediction

XRP price has soared this week, a move that analysts attribute to its strong technicals and the broad-based crypto market rally.
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Why 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. 

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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. 

Paul Squire XRP Statement

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.

XRP Price Forecast

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.

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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.

XRP Price Chart

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.

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Frequently Asked Questions

What are analysts saying about the rising XRP price?

Analysts are attributing the rising XRP price to its strong technical analysis and the recent swearing in of Paul Atkins.

How high can the Ripple token price get?

The most likely scenario is where the token rises to the 78.6% retracement level at $2.70, up by about 20% above the current level.

Can XRP hit $10 in 2025?

Odds are that the XRP price will not hit $10 this year since it needs to jump by over 338% from the current level.
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crispus

Crispus is a seasoned Financial Analyst at CoinGape with over 12 years of experience. He focuses on Bitcoin and other altcoins, covering the intersection of news and analysis. His insights have been featured on renowned platforms such as BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and 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.
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