XRP News Today: XRP Surges 500% to $2.27, Eyes $4.80 and $8.00 Targets

XRP has maintained its position above $2.00 following a remarkable 500% rally, with bullish targets set at $4.80 and $8.00. This surge has captured the attention of traders and analysts alike, who are closely monitoring the cryptocurrency's next moves. The token's price action has been particularly noteworthy, as it has shown signs of building a base for another potential rally, supported by increasing volume and renewed investor interest.

XRP's breakout in early 2025 was preceded by a period of consolidation between $0.30 and $0.70 throughout 2024. The token's price surged from $0.50 to over $3.40 in just a few weeks, stunning the crypto market. This move was driven by strong trading volume, particularly on Binance, where XRP reached its peak. The cryptocurrency has since stabilized, trading at $2.27, and has held above the key $2.00 level since the breakout, setting higher lows and signaling bullish momentum.

Technical indicators now point to resistance levels at $2.90, $4.80, and $8.00. The $2.90 zone is particularly critical, as multiple rejection wicks have formed there. Additionally, a red curve indicates a healthy correction after the parabolic run-up. Egrag Crypto notes that XRP must break above the pink descending trendline to maintain upside pressure. The green channel has already been breached, and the next hurdle lies at $2.40. The token has tested this upper boundary multiple times but has yet to sustain a breakout.

Support remains firm around $2.03, $1.77, and $1.71, with these levels effectively absorbing sell pressure. Fibonacci retracement zones at $2.71 and $2.88 also pose technical resistance. XRP’s ability to hold near the upper consolidation range indicates resilience. Consequently, the cryptocurrency stands at a critical junction. A decisive move above $2.40 could reignite momentum toward the $4.80 and $8.00 targets. Traders are closely watching volume spikes and trendline behavior as indicators for the next leg up.

XRP's recent performance has been driven by a combination of technical factors and renewed investor interest. The token's ability to hold above key support levels and its bullish momentum suggest that it is well-positioned for further gains. However, traders will need to navigate several resistance levels before reaching the $4.80 and $8.00 targets. The cryptocurrency's next moves will be closely watched by the market, as any decisive breakout could signal a new phase of growth for XRP.