XRP has recently experienced a remarkable surge, capturing significant attention in the crypto market. This rally, characterized by substantial price gains, is underpinned by a confluence of strong market performance, improving sentiment, and compelling technical indicators.
Fueling the Rally: Market Momentum and Shifting Tides
XRP's price has soared, marking an impressive 14% rise to an intraday high of $2.41, contributing to a weekly gain of over 27%. This robust performance coincided with a historic day for XRP ETFs, which recorded an unprecedented $64.44 million in volume. The broader U.S. spot ETF market has also maintained a consistent streak of inflows since its November launch, signaling sustained investor confidence. Adding to this positive momentum, the departure of SEC Commissioner Caroline Crenshaw and ongoing discussions around crucial market structure legislation have further bolstered XRP's sentiment, hinting at a potentially more favorable regulatory landscape.
Bullish Technicals and Expert Projections
The recent price movement has triggered significant technical milestones, notably the completion of a "golden cross" on XRP's four-hour chart. This bullish signal, where the 50-period moving average crosses above the 200-period moving average, indicates a strong upward trajectory and has been observed across various lower time frames. Crypto analyst "Steph is crypto" offers a compelling long-term perspective, likening XRP's current trajectory to that of gold. After an extended corrective phase, XRP is now seen as completing a clean wave-four structure and breaking out from a falling wedge. The analyst suggests that just as hard assets like gold made their move, higher-beta assets such as XRP are now beginning to respond, following a similar, albeit delayed, path of appreciation.
