XRP Surges 8%: Bullish Sentiment Predicts Breakout to $5.85

XRP, the native cryptocurrency of the Ripple network, has been making waves in the crypto market, with analysts predicting a potential breakout to $5.85 and beyond. The token has seen an impressive 8% rally, coming close to the $3 mark, as investor enthusiasm grows. This surge in trading volume and market confidence has analysts mapping out the next potential moves for XRP.

XRP's trading volume has jumped by 63% to $8.79 billion, indicating a strong bullish sentiment. CoinGlass data shows a 10% increase in XRP Futures Open Interest, suggesting that investors are betting on further upside. Analysts believe that breaking key resistance levels could open the door for even bigger gains. Dark Defender has identified $2.90 as a crucial breakout point, predicting that if XRP surpasses this level, it could surge to $5.85. Meanwhile, EGRAG CRYPTO highlights $2.94 as another key barrier, suggesting that once crossed, the next targets would be $3.22 and $3.40.

One of the biggest factors boosting XRP's price is the growing speculation around an XRP ETF. The U.S. SEC recently acknowledged a filing for an XRP ETF by 21Shares, following its acceptance of other altcoin ETF applications, including Dogecoin. This move has fueled optimism that approval could be on the horizon, potentially opening XRP to massive institutional investment. Additionally, a shift in U.S. regulatory policies has further strengthened the bullish outlook, with traders expecting a more crypto-friendly stance from the government following Donald Trump's election win.

Adding to the excitement, rumors are buzzing that the U.S. government may be considering a crypto reserve, with XRP as a possible candidate. Speculation about Ripple's CEO, Brad Garlinghouse, has further fueled this speculation. Another major factor driving XRP's surge is the speculation that the long-running legal battle between Ripple and the SEC could be dismissed soon, potentially removing a major roadblock for the token.

With strong bullish momentum, analysts believe XRP could soon hit $3.40 and beyond. If key resistance levels are broken, predictions range from $5.85 to as high as $8. The combination of ETF hopes, regulatory shifts,