XRP News Today: XRP Surges 14.5% as Bullish Momentum Drives Price to $2.427

On May 9, 2025, the XRP/USDT pair experienced a significant uptrend, with the price of XRP surging from approximately $2.118 to a peak of $2.427. This bullish momentum was sustained throughout the trading session, with only minor retreats observed. The MACD indicator played a crucial role in this rally, generating several golden cross alerts that bolstered the bullish sentiment. Despite the RSI signaling overbought levels, buyers maintained their upward momentum, indicating strong demand and confidence among both institutional and retail investors.

In the early hours of May 9, XRP price initially formed a descending channel before a strong green candle broke through this structure. This breakout coincided with a MACD golden cross, suggesting further upward momentum and boosting market optimism. The price briefly traced a wedge pattern before escaping, propelling XRP to $2.206 at 04:05 UTC. At this point, the RSI indicated overbought levels, and the MACD produced a death cross, leading to a brief pullback to $2.168. However, buyers quickly regained control, and the market entered a consolidation range between $2.201 support and $2.221 resistance.

At 14:45 UTC, XRP price broke above its established trading range, confirmed by a golden cross on the MACD, which indicated strong bullish momentum. This breakout drove the price rapidly to $2.275. Although the RSI flagged an overbought state, a sharp descending wedge pattern started forming, leading to a correction down to $2.227. The wedge structure eventually gave way, and bulls sparked a renewed rally, pushing the price to $2.329. Persistent bears defended this level across three failed approach attempts, leading to a consolidation phase where traders repeatedly tested the resistance threshold.

At 07:15 UTC, bulls decisively drove XRP price above the $2.329 resistance, shattering this critical barrier with clear upside momentum. Traders then initiated a pullback to retest the breakout zone, but the price held firm and climbed to a session peak at $2.427. After hitting this high, aggressive selling emerged, causing the price to plummet to $2.335 in a swift corrective move. Despite this volatility, buyers regained control and propelled XRP upward once more, targeting another assault on the day’s high at $2.427 with renewed conviction.

Looking ahead, XRP is likely to retest the session’s top price of $2.427, which acts as a resistance level. The recent upward momentum and the established bullish channel suggest that a break above this barrier is highly probable. A strong full-body green candle confirming this break could drive prices further higher toward the next target of $2.450. However, if sellers defend the $2.427 resistance and force a rejection, the price may slide downward, pulling back toward the previous support area around $2.333, where buyers might step in to push the market back up.