XRP News Today: XRP Surges 20% to $3.62 on U.S. Crypto Bills Passage

XRP, the cryptocurrency associated with Ripple, has recently surged to new heights, reaching an intraday high of $3.62. This significant jump comes after the U.S. House of Representatives passed three major cryptocurrency bills, including the Genius Act. The passage of these bills has sparked optimism among investors, pushing XRP beyond its recent peak of $3.40. The momentum behind XRP has been building, with many investors eyeing the $3.40 level as the next major target. The current price of XRP hovers near $3.25–$3.29, placing it within striking distance of its all-time high. This surge in price has been accompanied by a 17% increase in open interest, reaching $10.52 billion, indicating heightened trader activity and expected price swings. The price of XRP has also seen a 35% weekly rally, further fueling the bullish sentiment.

The recent rally in XRP has been driven by a combination of factors, including the passage of favorable cryptocurrency legislation and increased trader activity. The price of XRP has been on an upward trajectory, with a 20% increase over the past 24 hours, cementing a historic run close to a new all-time high. The asset has surpassed all previous highs, entering price-discovery mode. According to some analysts, XRP bulls could target the 1.272 Fibonacci retracement level at $3.88, drawn from the $3.40 peak of January 16 to the $1.61 low of April 7. The RSI indicator also suggests that the price of XRP is in a strong uptrend, with no immediate signs of a reversal.

On the downside, any rejection could pull XRP back toward the $2.90–$3.00 support zone. However, as long as XRP holds above this level, the bullish trend remains intact. Fueled by institutional interest, retail FOMO, and a broad crypto market rally, XRP’s bullish trend shows little sign of slowing. The recent surge in XRP has also been accompanied by predictions from various sources. According to Elon Musk's Grok AI, XRP could see a surge to between $10 and $400. However, it is important to note that this prediction is based on an AI model and should be taken with a grain of salt. The actual price of XRP will depend on a variety of factors, including market sentiment, regulatory developments, and trader activity. Despite the recent surge, some analysts predict that XRP could face resistance at the $3.80-3.90 level, which was the all-time high reached in 2018. However, if the current momentum continues, XRP could potentially reach new all-time highs in the near future.

With XRP already at $3.62, a push to $5 by the end of July is no longer far-fetched. However, some profit-taking could cool the rally briefly, especially if XRP hits $3.80. The recent rally in XRP has been driven by a combination of factors, including the passage of favorable cryptocurrency legislation and increased trader activity. The price of XRP has been on an upward trajectory, with a 20% increase over the past 24 hours, cementing a historic run close to a new all-time high. The asset has surpassed all previous highs, entering price-discovery mode. According to some analysts, XRP bulls could target the 1.272 Fibonacci retracement level at $3.88, drawn from the $3.40 peak of January 16 to the $1.61 low of April 7. The RSI indicator also suggests that the price of XRP is in a strong uptrend, with no immediate signs of a reversal.

Liquidity Surge: Crypto markets have seen over $500B in capital return over the past two weeks, pushing Bitcoin to $123K and Ethereum to $3.4K. Lawsuit Settled: The Ripple vs. SEC case is largely behind us, with both sides having agreed to terms. ETF Speculation: Hopes for a U.S.-approved XRP ETF are growing, with odds over 85% by year-end. Institutional Buying: Big money is moving in—adoption of Ripple’s technology is increasing behind the scenes. Retail Buying Spree: Small investors are piling in, accelerating gains further with classic bull cycle behavior.