XRP News Today: XRP Bullish Momentum Builds 5% Gain to $2.33 Possible

XRP, the cryptocurrency associated with Ripple, has been experiencing a surge in bullish momentum, with analysts predicting a potential breakout to $5 in the near future. The hourly charts show a tight range forming, which is building pressure and hinting at a significant move. This bullish momentum has been leaking into higher timeframes, strengthening the near-term XRP price forecast.

Despite a late-May dip that erased much of the month’s gains, the new month has sparked fresh momentum, putting XRP back on solid footing in the conversation about the best cryptocurrencies to buy. The market remains in a state of cautious optimism, with altcoins softening amid renewed trade concerns and signs of a cooling labor market. However, a small pickup from here could snowball into a more significant rally.

On the hourly timeframes, a descending channel has formed, with recent high-volume candles displaying sharp upward volatility. This channel is also visible on the 4-hour chart, where it frames the consolidation zone of a bullish flag pattern. Moderate volume increases on green candles affirm growing market confidence, suggesting that a breakout could be imminent.

If momentum persists, it could set up a 5% gain to $2.33, extending the June rally. However, the daily XRP chart is more in tune with broader macro uncertainty, with looming tariffs on the EU and progress in trade negotiations between the U.S. and China remaining the main drivers of sentiment.

On the 1-week chart, the bullish pressure comes as the price faces a key proving ground at the 0.5 Fibonacci retracement level—a common bottom marker for corrections. A 5% gain would steer the XRP price away from the lower support of a bullish pennant pattern forming since late-2024. Crossing below this threshold could invalidate the pattern completely.

If momentum continues, the pattern sets a breakout target around $4.38 before the end of the year, representing a potential 2x surge from current prices. The MACD is trending upward and is on track to cross above the signal line in a golden cross, supporting this outlook. On the weekly time frame, this often suggests a longer-term uptrend is forming. The RSI holds in bullish territory above the neutral line at 51, indicating that buying pressure continues to lead higher timeframes, though the balance remains delicate.

Traders should look to the next Fibonacci retracement level at $2.27 for confirmation of a successful bounce, affirming the pennant structure. Looking further ahead, June 17 presents a major catalyst with the decision deadline on US XRP spot ETFs. This event could significantly impact the price of XRP, either validating the bullish pennant pattern or invalidating it.