XRP Erases 'Black Sunday' Losses With 20% Surge As Jack Dorsey Posts Intriguing Video Featuring Bitcoin Bull Michael Saylor

XRP, the third-largest cryptocurrency by market value, staged a remarkable comeback on Monday, February 3, 2025, as investors welcomed President Donald Trump's temporary relief on tariffs. The cryptocurrency rallied as much as 20%, recouping losses taken on 'Black Sunday,' which saw XRP fall to two-week lows. This impressive surge made XRP the most successful large-cap cryptocurrency over the last 24 hours, outgaining Bitcoin BTC/USD, Ethereum ETH/USD, and Solana SOL/USD.



The sentiment was bolstered by an intriguing video posted by Jack Dorsey, the founder of Twitter, on the decentralized social networking platform Primal. The video showed MicroStrategy co-founder Michael Saylor, a known Bitcoin BTC/USD advocate, transforming into the symbol for XRP. This unexpected endorsement from a prominent figure in the crypto space sparked intrigue and speculation within the community, potentially influencing market sentiment and driving XRP's price surge.

Several technical indicators painted a bullish scenario for XRP, further supporting its impressive rally. The Momentum indicator, which compares the short-term price and long-term price, flashed a "buy" signal, according to TradingView. Similarly, the Bull Bear Power indicator, which measures the strength of buyers and sellers, tilted in favor of the bulls. More than 71% of XRP futures traders had long exposure to the cryptocurrency, indicating expectations of further upsides. Additionally, Polymarket odds that an XRP exchange-traded fund would get greenlighted in 2025 were at 80% as of this writing, following filings by Grayscale, CoinShares, and Bitwise.

At the time of writing, XRP was exchanging hands at $2.70, up 20.81% in the last 24 hours, according to data from Benzinga Pro. This significant price increase highlights XRP's resilience and potential for further growth in the near term.



As XRP continues to gain momentum, investors should keep an eye on key resistance and support levels to gauge its short-term direction. If XRP can break above resistance levels, such as $2.25 and $2.30, it could signal further upward momentum. Conversely, if it fails to hold above support levels, such as $2.20, it could lead to a decline in price.

In conclusion, XRP's impressive 20% surge on Monday, February 3, 2025, demonstrates the cryptocurrency's potential for rapid growth and recovery. The combination of positive market sentiment, technical indicators, and potential regulatory developments has positioned XRP for a strong performance in the near term. As always, investors should remain vigilant and monitor XRP's price action closely to capitalize on potential opportunities.