XRP Surges 0.835% as Bullish Momentum Returns
3min read XRP's latest price was $2.22, up 0.835% in the last 24 hours. The cryptocurrency associated with Ripple Labs has shown signs of renewed bullish momentum in the derivatives market. The funding rate, a tool used to balance the price between the spot and futures markets, has returned to the positive region. This indicates that more traders are taking long positions, betting on XRP's potential price increase. Conversely, a negative funding rate suggests bearish sentiment, with traders taking short positions. The recent shift in the funding rate from negative to positive on May 1 indicates that bulls are regaining control of the XRP derivatives market, reflecting growing trader confidence in XRP.
Several factors contribute to this renewed optimism. The wider crypto market has shown signs of recovery, with Bitcoin and the top nine coins by market cap noting positive changes. Additionally, there has been a notable rise in trading volume for XRP futures, indicating increased interest from both retail and institutional investors. The MACD technical indicator also supports this bullish momentum, with the MACD line currently above the signal line and the MACD histogram bars positive and increasing.
XRP's Relative Strength Index (RSI) has rebounded significantly, climbing from 36.51 to 50.40, after previously reaching an overbought peak of 70.95 on April 28. This shift reflects a cooling off in selling pressure, placing XRP in a more neutral technical zone. While the RSI hasn’t fully recovered to bullish territory, the move back above 50 often signals a potential shift in momentum, especially if it continues trending higher in the coming sessions. The RSI is a momentum oscillator that measures the speed and change of price movements on a scale of 0 to 100. Readings above 70 typically indicate that an asset is overbought and may be due for a correction, while readings below 30 suggest oversold conditions and potential for a rebound. With XRP’s RSI now at 50.40, the asset is neither overheated nor undervalued, suggesting market indecision. However, maintaining this level or pushing higher could support a short-term bullish case, particularly if paired with strong volume or a breakout above nearby resistance.
The Ichimoku Cloud chart shows XRP trading just above the cloud, a zone that often acts as dynamic support in bullish setups. The current position suggests weak bullish momentum. However, the cloud ahead has turned from green to red, signaling potential resistance and a weakening trend outlook. The Tenkan-sen (blue line) and Kijun-sen (red line) are close together and mostly flat, reflecting short-term uncertainty, even as the price stays slightly elevated. The Chikou Span (green lagging line) is still hovering near past price action, offering no strong confirmation of bullish continuation. The shift to a red cloud ahead introduces caution, as it may represent an upcoming battle between bulls trying to hold above support and bears eyeing a reversal. A decisive move away from the cloud—either upward or back into it—will likely determine XRP’s next trend direction.
XRP’s Exponential Moving Averages (EMAs) remain bullish, with shorter-term lines still above the longer-term ones, signaling upward momentum. This comes as XRP spot ETF approval odds rise to 85% for 2025. However, price action is stuck between a $2.30 resistance and a $2.15 support. It’s a tight range where either side could take control. If the $2.15 support is tested again and breaks, XRP could fall toward $2.03 and possibly $1.90, putting the bullish structure under pressure. Conversely, a successful breakout above the $2.30 resistance could trigger a new leg upward, especially if followed by a move past $2.36. In that case, XRP price would likely target $2.50 and potentially $2.64 as the next resistance zones. As long as the EMAs maintain their current structure, bulls retain the technical edge. However, a decisive move beyond the current range is needed to confirm the next directional trend.
Prominent crypto influencer JackTheRippler recently drew attention to a special mention of XRP in a MasterCard-published remittances report titled The Future of Remittances in Latin America. Sharing an image of the document, the influencer emphasized the relevance of XRP being identified by a global financial institution as a bridge currency in cross-border payment flows. This reference appears in the report, titled “Blockchain technology fuels new remittances business cases,” where mastercard describes how digital assets and blockchain-based systems are being integrated to improve the efficiency of cross-border transfers. The document states: “SBI Remit is using Ripple’s XRP as a bridge currency to allow fast and cost-effective remittances.” It is grouped alongside examples involving MoneyGram and Stellar, indicating broader institutional experimentation with crypto assets for remittance solutions.
Ripple and XRP’s inclusion in a MasterCard report reflects an ongoing trend of major financial institutions acknowledging blockchain infrastructure as a viable part of modern payment systems. SBI Remit, the Japan-based remittance service, has had a long-standing relationship with Ripple, and its use of XRP in payment corridors across Asia has been well-documented. However, the reference in an official MasterCard document adds further credibility by linking this real-world use case to a respected global payments leader. MasterCard’s report is intended to highlight trends shaping the evolution of remittances, with examples drawn from across regions and technologies. XRP’s role is presented not as a speculative asset but as part of a functioning remittance network contributing to lower costs and improved speed in cross-border value transfers. This reference supports Ripple’s positioning of XRP as utility-focused and technology-driven.
Ripple has consistently advocated for XRP as a bridge asset to facilitate liquidity between fiat currencies worldwide. This model aims to eliminate the need for pre-funded accounts and reduce foreign exchange costs, particularly for underserved corridors. MasterCard’s acknowledgment reinforces the digital asset’s relevance in these scenarios and aligns with Ripple’s business strategy of targeting the remittance market. The inclusion of XRP in MasterCard’s report underscores the growing acceptance of blockchain technology and digital assets in the financial sector, further solidifying XRP’s position as a key player in the remittance landscape.
