Why Is Crypto Up Today? XRP Price To Hit $5 Sooner Than Expected?

Guy Fawkes 2025.05.09 3 min read

The XRP price has been ripping through resistance, up 27% on the month and now brushing $2.40.

Momentum is building fast, fueled by legal tailwinds, exchange flows, and a wave of retail enthusiasm. Here’s where the XRP price is heading next.

Dollar Weakness Benefits XRP Price

Ripple finally closed the book on its war with the SEC, settling for $50 million instead of the $2 billion hammer the agency wanted.

That deal ripped the brakes off

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, sending the token surging to $2.40. For now, it seems Ripple is no longer fighting in the shadows and is back to building.

THE SEC vs. @Ripple TRIAL HAS ENDED$XRP price is pumping right now! #XRP Holders Right Now pic.twitter.com/5plY5ysWcj

— John Squire (@TheCryptoSquire) May 8, 2025

Additionally, as the dollar slides, XRP rises, as do other risk assets.

An 8% drop in USD strength has tilted the playing field toward assets that do more than sit idle. XRP is pulling in capital that’s fleeing fiat and chasing function.

XRP: Technical Analysis Points to Further Upside

In the past few weeks, Ripple also acquired Hidden Road, a brokerage that clears $10 billion in daily trades.

Chart analysis also reinforces the bullish outlook. XRP recently broke above a descending channel and reclaimed critical support at $2.28. Indicators such as the Relative Strength Index (RSI) at 62.03 and a bullish Moving Average Convergence Divergence (MACD) signal strengthening momentum.

If momentum continues, XRP is eyeing resistance at $2.72, with a possible breakout toward $3.40—a new yearly high.

But optimism has its risks. Regulatory risk, economic turbulence, and the complexity of onboarding Ripple’s latest acquisition could stall the rally. Still, the use case is real, and the milestones are stacking.

EXPLORE: XRP Price Jumps 11% After SEC Crypto Unit Tease XRP ETF Progress

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Key Takeaways

XRP has been ripping through resistance, up 27% on the month and now brushing $2.40.
Momentum is building fast, fueled by legal tailwinds, exchange flows, and a wave of retail enthusiasm. Here’s where the XRP price is heading next.
For now, the debate about XRP’s place in America’s financial future is just beginning.

The post Why Is Crypto Up Today? XRP Price To Hit $5 Sooner Than Expected? appeared first on 99Bitcoins.

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