XRP News Today: XRP Surges 4% in 24 Hours, Reaches Two-Month High of $2.61

XRP (XRP) has recently demonstrated a significant surge in its price, reaching a two-month high of $2.61. This marks the highest point for the cryptocurrency since March 6, 2025, according to recent market data. The digital asset has posted gains of 4% over the past 24 hours and is up 6% over the last week, indicating strong bullish momentum.

Several factors have contributed to XRP’s recent price surge. One notable development is the increase in the number of XRP holders, which has risen by 11% since the beginning of 2025. This growing adoption is further supported by payment platforms like Travala, which have integrated XRP into their systems. Additionally, legislative developments such as Missouri’s proposed House Bill 594, which aims to allow citizens to deduct all capital gains taxes on assets like XRP and Bitcoin, have created a favorable sentiment around the token.

From a technical analysis perspective, XRP is displaying strong upward momentum. The cryptocurrency is currently trading above all key moving averages, including both the 10-day and 200-day averages. These indicators are signaling a buy recommendation for traders. The Moving Average Convergence Divergence (MACD) for XRP is in positive territory, and the Relative Strength Index (RSI) stands at 62, suggesting that the token still has room to move higher before reaching overbought conditions.

XRP’s price action shows a clear bullish trend line forming with support at $2.4350 on the hourly chart. The price is trading above the crucial $2.40 level and the 100-hourly Simple Moving Average, reinforcing its positive structure. On the upside, XRP faces resistance near the $2.4950 level. The first major resistance is positioned at approximately $2.550. If the price can move decisively above this level, it could target the $2.600 mark. Breaking through the $2.60 resistance might push XRP toward $2.650. Further gains could see the price approach $2.720 or even $2.7450 in the near term. The next major hurdle for bulls appears to be around $2.80.

If XRP maintains its position above the $2.45 support level, it could continue its push toward the $3 psychological level. This target aligns with the analysis of several market observers. However, if XRP fails to clear the $2.550 resistance zone, a correction might occur. Initial support on the downside lies near $2.4350 and the trend line. The next major support is around the $2.40 level. A downside break below $2.40 could lead to further decline toward the $2.350 support. Additional support is positioned near the $2.320 zone.

Some analysts are even more optimistic about XRP’s future price action. Crypto analyst Dark Defender suggests that XRP may have completed its Wave 4 correction at $2.07 and is now entering Wave 5, often considered the strongest part of the Elliott Wave cycle. According to this analysis, if the pattern holds, XRP could potentially reach targets between $5.85 and $6.39 in the coming weeks. However, confirmation of this pattern is still needed.

The most recent price action shows XRP pulling back slightly from its high of $2.6560. The price has dipped below $2.50 but remains supported above $2.40, maintaining its overall bullish structure. This recent surge in XRP’s price and trading volume indicates growing interest and confidence in the token, positioning it as a strong contender in the cryptocurrency market.