XRP News Today: XRP Surges 4% This Week Amid Bullish Predictions and Market Recovery

XRP price has surged over 4% this week, reflecting renewed confidence among traders and a broader crypto market recovery. The global crypto market cap has increased by more than 2% to $3.33 trillion, with a 30% jump in 24-hour trading volume to $100 billion. This surge comes despite recent geopolitical turmoils, indicating that market participants have shrugged off these concerns.

Analysts have shared a bullish trajectory for XRP, with some predicting that the price could hit $20 this cycle. Renowned analyst EGRAG CRYPTO shared a Ripple coin price chart indicating a potential surge to $22-$27, with $20 being a key target. According to the analyst, XRP’s 9 SMA on the monthly time frame is signaling the last leg of the current trend, hinting at a significant price move. Other analysts also share this optimism, with some predicting targets between $8 and $19 based on historical patterns and technical analysis.

Echoing a similar sentiment, analyst Dark Defender has also predicted a bullish road ahead for XRP price. The expert claimed that the crypto is poised to hit $3.55 as long as it holds the $2.20 support. In addition, he also noted that the historical performance indicates a potential rally for the crypto to $20.

Apart from the technical analysis and historical performance, the market fundamentals also indicate a surge ahead for the crypto. Polymarket data showed that Ripple ETF approval odds for 2025 sit at 88%. This ETF, if approved, could drive the price to a new high. Considering BTC hitting a new high after the ETF approval in the US, it seems that the same development could trigger a robust rally in XRP price.

On the other hand, the anticipation over a resolution in the long-running Ripple Vs SEC case could also help drive the price higher. In the latest lawsuit development, Ripple and the US SEC have filed a joint motion to reduce the penalty to $50 million from the previously decided $125 million. This development could further boost investor confidence in XRP, potentially driving the price higher.

Despite the surge, XRP has lost around 4% in the monthly chart while declining about 1% over the past seven days. However, the coin’s Futures Open Interest rose around 5%, reflecting the renewed confidence of the investors in the XRP price. This indicates that investors are bullish on the coin's prospects and are willing to take on more risk in anticipation of further price gains.