XRP News Today: XRP's Price Surges 10% in Two Weeks Amid Regulatory Shifts

XRP, the cryptocurrency associated with Ripple, has seen a notable shift in market sentiment over the past two weeks, with bullish trends emerging. As of May 16, 2025, XRP was trading at $2.40, marking a significant recovery from previous lows. The price climbed above $2.60 earlier in the week, reaching a high of $2.65 before retreating to a low near $2.48. This price correction saw XRP dip below the $2.60 and $2.55 levels, entering a short-term downward trend similar to that observed in other major cryptocurrencies.

The recent price action has been influenced by several factors, including a judge's rejection of a $50 million SEC deal involving Ripple. This decision led to a 3% drop in XRP's price and a withdrawal of $160 million in Open Interest, weakening the near-term outlook. Despite this setback, analysts remain optimistic about the long-term trend. If bulls regain control and push the price above the $2.51 to $2.60 range, the next target could be $2.80, potentially reigniting short-term optimism.

The technical analysis of XRP's price chart shows a breakout from a long-term descending wedge pattern, followed by a rejection at a critical resistance between $2.52 and $2.73. This resistance level has been a pivotal point in the ongoing battle between bulls and bears. Recent price action includes a bounce off the $2.42 support level and a rejection at the $2.4551 resistance, indicating a delicate balance between buying and selling pressures.

Despite the recent volatility, XRP's price has shown resilience, trading broadly stable at around $2.60. This stability is supported by improved market sentiment and the overall bullish trend in the crypto markets. However, increased selling pressure has been noted, with XRP trading at $2.3686, marking a slight 0.53% decline in the last 24 hours. This decline follows a previous bullish surge, highlighting the ongoing volatility and the need for cautious optimism among traders.

In summary, XRP's price has shown a bullish shift with a significant recovery over the past two weeks. The price action has been influenced by various factors, including regulatory decisions and market sentiment. While the near-term outlook remains uncertain, the long-term trend appears to be holding, with potential targets at $2.60 and beyond. Traders and investors should closely monitor the price action and technical indicators to navigate the volatile market conditions.