XRP News Today: XRP's $2.63 Surge Now Tests Crucial $2.50 Threshold for Breakout

According to a FxStreet forecast, XRP is surging on multiple fronts as bullish signals converge, with analysts and market dynamics pointing toward a potential breakout above $2.64. Technical indicators, institutional demand, and strategic developments from Ripple and its partners are fueling optimism. The token has clawed back from a recent dip below $2.30, trading at $2.63 as of press time, having surpassed Binance Coin (BNB) to reclaim the third-largest market capitalization at $158 billion, according to a Finbold report.

A Benzinga analysis notes that key technical levels are aligning to support XRP's upward trajectory. The Moving Average Convergence Divergence (MACD) indicator remains bullish, with the blue line holding above the red signal line on the daily chart. The Relative Strength Index (RSI) has also retreated from overbought territory to 44, suggesting easing bearish momentum, a point highlighted in the FxStreet forecast. A critical threshold lies at $2.50, with a close above this level likely to trigger further gains toward the 200-day EMA at $2.61 and the 50-day EMA at $2.69, the FxStreet piece adds.

Institutional demand is another catalyst. Evernorth, a Ripple-backed treasury firm, plans a SPAC merger to raise $1 billion for XRP purchases, signaling confidence in the token's long-term value, as Benzinga reported. Meanwhile, CME Group's XRP futures open interest has surged to $9.9 billion, reflecting robust speculative and institutional activity, according to a Crypto.news report. The launch of the REX-Ospey spot XRP ETF has also drawn $100 million in assets, with analysts noting that ETF inflows could propel the price toward $3.00 and beyond.

A Coinpedia report says macro factors are amplifying XRP's appeal. A U.S.-China trade breakthrough lifted global markets, with Bitcoin surging past $113,000 and Ethereum rising to $4,049. XRP joined the rally, gaining 11% this week amid improved risk-on sentiment. Carl Moon, a prominent crypto analyst, has set a $2.648 target, citing a "rebound about to begin" as traders anticipate a potential XRP ETF approval and Ripple's expanding use cases in payments and stablecoins.

However, caution persists. Chris Larsen's recent sale of 50 million XRP raised short-term concerns, though analysts argue it reflects strategic allocation for Evernorth's public listing, as Benzinga noted. A breakdown below $2.18 could reignite bearish pressure, with the 50-day moving average at $2.60 acting as a key psychological barrier. On-chain data shows whale accumulation, but retail sentiment remains fragile, with Santiment noting a "fear-buy" dynamic as small wallets offload holdings, a trend cited in the Finbold analysis.

The path forward hinges on maintaining institutional momentum and technical resilience. If XRP sustains above $2.50, the next resistance at $2.77 could be breached, aligning with Carl Moon's $2.648 target and broader bullish projections. Ripple's RLUSD stablecoin nearing $1 billion in assets and Evernorth's market influence further underscore the token's institutional adoption potential, the Finbold report adds.