XRP surged to $2.98, marking a 1.56% increase today, driven by gains in Bitcoin and Ethereum that spilled over into the altcoin market. Traders returned to large-cap tokens amid a renewed risk-on sentiment, positioning XRP among the primary beneficiaries of the market upswing.
Recovery in Market Sentiment
After weeks of choppy trading, investor confidence is returning, fueling speculative capital flows back into cryptocurrencies. XRP continues to mirror broader market cycles, reinforcing its correlation with Bitcoin-led rallies. Analysts now point to the $3 level as the next key resistance point as upward momentum strengthens.
USD Weakness and Fed Speculation Boost Demand
A softer U.S. dollar has also contributed to crypto gains, as uncertainty around a potential U.S. government shutdown drives investors away from traditional safe havens. Mild employment data has further fueled expectations that the Federal Reserve may consider rate cuts, enhancing risk appetite across markets. Such macroeconomic factors create a favorable environment for altcoins, including XRP.
Institutional Flows and ETF Optimism Fuel the Rally
According to market analyst Anton Kharitonov, today’s rally reflects a combination of regulatory optimism and potential progress in cryptocurrency ETF approvals.
“XRP is currently benefiting from a favorable mix of macroeconomic conditions and crypto-specific factors,” Kharitonov noted. “If momentum continues, we could see an advance toward the next resistance zone. However, any shifts in macro sentiment or regulatory uncertainty could quickly undermine these gains.”
Investor confidence is bolstered by early signs of whale accumulation, as large holders reportedly increase positions, which in turn supports price stability and encourages momentum traders to follow suit. The combination of macro tailwinds, ETF optimism, and institutional activity has created a bullish cycle for XRP. Maintaining levels above $2.95 keeps the upward bias intact, with a potential breakout above $3 if the momentum persists.
Recent Price Action
On Thursday, XRP traded around $2.96, as the market attempted to regain momentum following several weeks of consolidation within a downward trend.
