XRP News Today: XRP Surges 15% to $2.32 on Ripple Legal Optimism

XRP, the cryptocurrency associated with Ripple, has seen a notable price surge, surpassing the $2.30 mark this week. This significant increase has led several analysts to update their short- and long-term projections for the digital asset. The price action indicates that XRP is poised for a breakout above the $2.30 resistance level, with the next key target being $2.50. This bullish momentum is driven by growing optimism surrounding Ripple’s legal developments and the broader altcoin market recovery. The token reached a high of $2.32 before retracing and is now consolidating near $2.28, just above key Fibonacci support zones.

XRP broke out of a descending triangle structure, passing through layered resistance levels with momentum. This move was accompanied by a spike to the 0.618 Fibonacci extension level around $2.30–$2.31. After this brief peak, the XRP price pulled back and is now testing the $2.15–$2.25 region. The Fibonacci retracement levels, 0.118 ($2.20), 0.236 ($2.18), and 0.382 ($2.15) are providing potential support. A bounce from the 0.382 level would align with CasiTrades’ expectation of a bullish continuation. Analysts now regard this zone as essential for determining the next leg in the trend.

XRP price hourly RSI crossed above a long-term descending trendline, with current readings near 68. This position suggests active buying strength and possible continuation. The RSI breakout supports the view that this move could evolve beyond a short-term pump. Volume has also remained steady throughout the breakout, with buyers stepping in near key retracement zones. This adds weight to the current consolidation being part of a trend-building phase.

CasiTrades stated that a sustained move above $2.25 could trigger upside to $2.69 and $3.04. She added that XRP price may reach $6.50 in July and could extend to $8 depending on market conditions. Longer-term projections include $13 and $26 by the end of 2025 if key resistances are flipped. Other analysts share a similar view. “The Analyst” mentioned targets up to $9.50, while George Tung forecasted $8 by year-end. WatersAbove projected $15 during July, and EGRAG Crypto suggested a $27 target, which echoes the same bullish framework.

Market watchers are now monitoring whether the current range will hold and provide a new base for continuation. The recent price surge has also sparked comparisons to XRP's historic 2017 breakout, with some analysts predicting a potential 1200% increase in price. This optimistic outlook is supported by the dual push toward federal licensing and ETF eligibility, which analysts view as a positive sign for XRP's future. The end of Ripple's legal battle and the progress towards ETF approvals have further bolstered the bullish sentiment surrounding XRP, with holders anticipating major gains in the near future.

However, it is important to note that while the current momentum is bullish, there are also potential risks and challenges ahead. According to one analyst, if the $1.90 level is breached, XRP could potentially drop to a new low of around $0.287, marking a decline of over 87% from the current price. This highlights the importance of monitoring key support levels and being prepared for potential market volatility.

In conclusion, the recent price surge and bullish momentum surrounding XRP have led to revised projections and optimistic predictions from analysts. However, it is important to approach these predictions with caution and to be aware of the potential risks and challenges that lie ahead. As the cryptocurrency market continues to evolve, it will be interesting to see how XRP performs in the coming months and whether it can live up to the high expectations set by analysts.