XRP News Today: XRP Surges 20% as Trump's Trade Deal Boosts Crypto Market

XRP, the cryptocurrency associated with Ripple, has seen a significant price surge, gaining over 5% from the previous day and more than 20% from the start of the month. The token reached a high of $2.27, its peak level in recent trading sessions. This upward trend is part of a broader recovery in the cryptocurrency market, which saw a rebound following a dip triggered by the U.S. Federal Reserve's decision to maintain its benchmark interest rate at 4.25%-4.5%.

The recent price action of XRP has been characterized by volatility, with the token initially sliding from its high of $2.36 on April 28. However, despite attempts by bears to push the price below the $2 support level, the token managed to rebound. On May 6, XRP touched a low of $2.07 before recovering, although efforts to reclaim the daily moving average of 50 at $2.172 faced resistance. The early Thursday trading session saw a significant price jump, pushing XRP above the daily moving average of 50 once again. This suggests that buyers may be regaining control, and confidence in XRP’s short-term outlook is strengthening.

The bullish sentiment is further reinforced by a long-to-short ratio of 1.0218, indicating that more traders are betting on XRP's price rising. This optimistic outlook is supported by the formation of a bullish Reverse Dragon Head Pattern on the daily chart, which historically suggests a potential for faster price increases. If XRP continues to rise and breaks above $2.60, it could signal a potential trend change, with the possibility of rallying to $3. Conversely, a break and close below $2 would pave the way for a drop to the $1.72 to $1.61 support zone. However, the flat moving averages and an RSI slightly above the midpoint indicate that XRP may remain range-bound between $2.60 and the $2 support for some time before the next major move.

U.S. President Donald Trump's major announcement of a trade deal with the United Kingdom has given the crypto market another boost, causing XRP and the broader market, including Bitcoin, to skyrocket. Trump announced the deal on Truth Social, his social media platform, calling it a “full and comprehensive one” that would “cement the relationship between the United States and the United Kingdom for many years to come.” Notably, he emphasized that it was the first announcement, suggesting more international trade deals are coming. In a follow-up post, the president revealed that the deal will raise $6 billion in external revenue from 10% tariffs and $5 billion in export opportunities, causing excitement in the financial markets and a notable rise among major cryptocurrencies.

Market participants have interpreted Trump’s post as a signal of strength. While Trump’s tariff threats initially affected the crypto market’s performance, this resurgence shows that his America-first approach is paying off. Bitcoin has also experienced a notable 4.9% surge, climbing above $100,000 for the first time since early February. XRP’s strong response reflects the shift in sentiment caused by the deal, especially given its positioning as a cross-border settlement solution. Trump has promised many other deals, stating that the U.S. is open for business to those who respect it and bring serious deals. With more deals on the horizon, detractors who panicked and sold their XRP early will miss out on the massive resurgence.

While XRP’s price struggled, a crypto expert revealed that the short bearish phase would separate the tourists from the truthers. These truthers who believed that Trump’s policies would favor XRP and the broader crypto market are now seeing the results of their belief. Market participants will watch closely to see whether Trump’s upcoming deals or future statements reinforce this shift and help XRP climb further.