XRP is starting to show serious signs of life again, riding a wave of renewed bullish energy that’s lifting the entire crypto market. On Thursday, the digital asset surged past $2.19—up over 3%—putting pressure on a key resistance zone formed by the convergence of its 50-day and 100-day exponential moving averages (EMAs) at $2.21. If buyers can overcome this technical barrier, the long-awaited climb toward the $3.00 level might finally be back on the table.
But there’s a catch: XRP still needs to clear a stubborn downtrend that’s been in place since January. That descending trendline remains the final boss standing between the current rally and a full-fledged breakout.
Macro Winds Fueling Crypto Momentum
This uptick in XRP’s momentum comes as global risk sentiment improves following the latest Federal Reserve announcement. The Fed decided to hold interest rates steady at 4.24%-4.5%, citing ongoing market volatility and potential inflation risks tied to President Trump’s aggressive tariff policies.
During Wednesday’s press conference, Fed Chair Jerome Powell struck a cautious tone, indicating the central bank would hold off on any rate moves until it sees clearer economic signals. That pause in tightening seems to have lit a fire under the crypto market, with investors increasingly turning to digital assets as traditional markets wobble.
The broader crypto landscape reflected this shift, with CoinGecko reporting a 1.2% bump in total market capitalization, now sitting at around $3.175 trillion. All top-ten cryptocurrencies, XRP included, are flashing green over the past 24 hours.
Derivatives Action Signals Bullish Underpinning
Under the hood, XRP’s derivatives market is showing growing strength. Open Interest has climbed 2.46%, signaling that fresh capital is entering the market. Even more striking is the 20.45% spike in options open interest, which now stands at $1 million—hinting at an uptick in speculative positioning and trader conviction.
The long-to-short ratio currently sits at 1.0218, underscoring a slight but clear bullish tilt in sentiment. Traders are increasingly positioning for upside, betting that XRP has more room to run.
Whale Activity Suggests Institutional Confidence
Behind the scenes, big players are quietly building positions. According to Santiment’s Supply Distribution data, whale wallets holding between 10 million and 100 million XRP have upped their holdings from 10.47% on February 24 to 12.22% today. That 1.75% increase may seem modest at first glance, but it’s a telling sign that the smart money is leaning in.
Technicals to Watch: Breakout or Breakdown?
While XRP flirts with a potential breakout, technical indicators are mixed. The Relative Strength Index (RSI) has crossed the 70 mark, often a bullish signal indicating strong momentum. However, the SuperTrend indicator is still showing resistance above the current price, suggesting the bulls haven’t completely won the day just yet.
To sustain the rally, XRP must stay above the $2.21 zone and flip that descending trendline. If rejected, traders will be watching for support at the 200-day EMA around $1.99. A deeper pullback could even revisit the April 7 low at $1.62.
For now, XRP is in the spotlight—caught between a confirmed breakout and a test of patience. The next few sessions could decide which narrative takes over.
