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Categories:

Hot right now:

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Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Why is XRP Price Going Up Today?

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XRP Price

The post Why is XRP Price Going Up Today? appeared first on Coinpedia Fintech News

Bitcoin has reclaimed the $90,000 level for the first time since March, surging as investors seek refuge in crypto amid a falling U.S. dollar. The flagship cryptocurrency rallied for a second consecutive day, supported by macroeconomic headwinds and increasing expectations that the Federal Reserve may soon pivot to rate cuts.

The U.S. Dollar Index (DXY) has slipped to a three-year low, increasing Bitcoin’s appeal as a hedge against currency devaluation. The situation mirrors recent gains in gold, which, like BTC, is often viewed as a store of value during uncertain economic conditions.

Altcoins Join the Rally

The bullish momentum wasn’t limited to Bitcoin. Ethereum (ETH) jumped by 13%, while XRP and Solana (SOL) each gained 7%. Dogecoin (DOGE) outperformed with a 14% surge, riding the wave of renewed retail interest and risk-on sentiment.

XRP: Holding Strong, Waiting for Breakout

XRP has been holding firm within a well-established range, currently trading above key support between $1.21 and $1.55. Analysts highlight that, despite minor wicks and volatility, this zone remains structurally intact. A rally in wave five, as suggested by some Elliott Wave analysts, may still be in play.

For a bullish breakout confirmation, XRP would need to clear $2.25, the recent local high from April 13. A successful push beyond that level could open the door for a move toward $3.30, and potentially extend to targets between $5.00 and $5.65, depending on broader market momentum. At the time of writing, XRP has gained more than 7% and is trading at $2.25.

However, the path higher isn’t guaranteed. A break below $1.82 could shift focus to a deeper correction. While microstructure analysis shows no clear five-wave decline — which would imply a deeper correction — the market has yet to confirm a strong reversal.

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