XRP News Today: Bitcoin Surges 5% to $105,000 on U.S.-China Trade Optimism

Bitcoin's recent surge past $104,000, briefly touching $105,000, has sparked optimism among analysts who attribute this rise to positive developments in U.S.-China trade talks. This breakthrough is seen as a potential catalyst for lifting investor confidence across global markets, which could further boost risk assets like cryptocurrencies as global liquidity increases.

Bitcoin's dominance in the crypto market is on the decline, a trend that often precedes a shift towards altcoins. This pattern was observed in late 2024 before a significant altcoin rally. If this trend continues, May and June could be particularly bullish months for crypto investors. Ethereum, for instance, has already climbed nearly 40% in a week, trading above $2,500. The decreasing dominance of USDT, the Tether stablecoin, indicates that more investors are moving their funds from stablecoins into crypto assets, another positive sign for the market.

XRP, the native cryptocurrency of the Ripple network, is attracting significant attention from technical analysts. XRP recently broke out of a 112-day downtrend, and if the rally continues, it could hit $2.80 soon. Some bullish price targets suggest it could even reach as high as $5.65, especially if it maintains key support levels. The XRP/BTC trading pair is also showing promise, currently attempting to break out of a "falling wedge" pattern, which is often a sign of a significant upward move.

Analysts are predicting a potential local market top in June or July, with Bitcoin possibly reaching $120,000 to $130,000. If this scenario plays out, Ethereum could return to $4,000, and XRP might approach $4.00. The recent discussions between BlackRock and the SEC regarding staking and options integration in crypto ETFs have further fueled bullish sentiment. If approved, these enhancements could attract substantial inflows, potentially pushing Bitcoin beyond its previous all-time highs. The RSI remaining over 70 indicates persistent buying pressure, with a breakout above $105,000 potentially igniting a rally toward the $112,000–$120,000 range.

XRP's momentum is further bolstered by the recent $50 million settlement agreement between Ripple and the SEC, which has gained momentum for a potential breakout. XRP's price has consolidated gains around $2.31, and analysts predict it could hit $3 following the settlement. The broader market sentiment remains risk-on, with macro liquidity expectations improving. This foundation supports a push toward higher price levels for both Bitcoin and XRP. The stability and higher volume in the current range for Bitcoin suggest an imminent directional move, with the potential for a long-term rally toward $120,000. For XRP, the settlement with the SEC and the overall bullish market sentiment could drive its price to new heights, potentially reaching the $3 mark and beyond.