TLDR

XRP price is trading at $2.17 following a strong market recovery after the FOMC meeting.
Daily trading volume for XRP has surged 80 percent to $4.35 billion, indicating rising market interest.
XRP has rebounded from $2.13 and is now approaching resistance levels at $2.222 and $2.36.
Analyst projections suggest that if momentum holds, XRP could rally to $3 and reach $6.3 in the short term.
Whale transactions involving 370 million XRP have raised speculation about Ripple’s strategic moves.

XRP price is gaining upward momentum amid a broader crypto market recovery post-FOMC meeting, now trading at $2.17. Daily trading volumes have surged to $4.35 billion, up 80%, reflecting growing trader activity. The renewed focus on Ripple reserves and strong whale activity are fueling short-term bullish sentiment.

XRP Price Targets $6.3 as Technical Setup Strengthens

XRP price has rebounded sharply after briefly correcting to $2.13, confirming a bullish structure and resuming its upward trajectory. Prominent crypto analyst Dark Defender outlined resistance levels at $2.222 and $2.36, which the coin now approaches. Completing the correction phase suggests XRP price may enter its next upward wave.

Source- DarkDefender

The analyst further divided the ongoing 5th Monthly Wave into five sub-waves, with near-term milestones in sight. The first target is $3, while the third and fifth waves aim for $4.4 and $6.3, respectively. This structure indicates a well-formed rally pattern, signaling that XRP price could gain rapidly if market conditions stay favorable.

Momentum is building as traders align with the technical forecast, and volume activity continues to rise. XRP open interest jumped 3.28% to $3.72 billion, supporting the bullish scenario. Additionally, XRP options open interest surged 28%, with trading volume crossing $1 million, reinforcing expectations of upward movement.

Whale Activity Drives Speculation on Ripple’s Strategic Moves

Two large XRP transactions involving whales have intensified speculation around Ripple’s strategic reserve activities. Blockchain data recorded a 70 million XRP transfer worth $148.3 million and a 300 million XRP move valued at $633.7 million. Both transfers went to undisclosed wallets, raising discussions about potential Ripple-driven developments.

🚨 🚨 🚨 🚨 🚨 🚨 70,000,000 #XRP (148,344,877 USD) transferred from unknown wallet to unknown wallethttps://t.co/gdX2IDZxaC

— Whale Alert (@whale_alert) May 7, 2025

The scale and timing of these transactions coincide with broader market recovery and increased trading interest in XRP. These whale moves suggest that Ripple-linked entities may be preparing for market adjustments or strategic positioning. Market participants are watching for subsequent signals that could impact XRP price behavior in the short term.

Combined with technical indicators, such large transfers often precede significant price moves when supported by market sentiment. XRP price has historically responded quickly to on-chain whale activity. Technical and on-chain data alignment points to heightened price volatility ahead.

New Law Fuels XRP Price Momentum

XRP price may see further long-term gains following recent legislation passed in New Hampshire tied to crypto market capitalization benchmarks. Under this law, if XRP reaches a $500 billion market cap by year-end, it becomes eligible for the state’s strategic digital asset reserve. This milestone would require XRP price to reach approximately $8.5.

Such a valuation aligns with forecasts projecting a climb beyond $10 by the end of 2025, driven by broader adoption. Legal developments like this increase XRP’s legitimacy as a strategic asset, potentially influencing institutional interest. The legislation could amplify future buying activity and further support price acceleration.

Ripple’s growing relevance in state-level frameworks adds a new narrative to the XRP price movement. As macro and legal frameworks evolve, XRP benefits from increased utility and recognition. The convergence of legal clarity, market momentum, and strategic planning positions XRP price for an aggressive upward push.

 

The post XRP Price Breakout Coming? Key Levels, Whale Moves, and New Law Hint Yes appeared first on CoinCentral.

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Filed under: News - @ May 8, 2025 8:23 am