- Ripple (XRP) is gaining bullish momentum, eyeing a breakout above $2.21 as whales increase holdings and market sentiment turns positive.
- A successful move past resistan could pave the way for a rally toward the $3.00 mark.
Ripple (XRP) is setting the stage for a bullish comeback as it trades at $2.19, eyeing a breakout above a significant confluence resistance at $2.21. The move comes amid a wider crypto rally, triggered by the Federal Reserve’s decision to hold interest rates steady between 4.24% and 4.5%, and dovish comments from Fed Chair Jerome Powell, who cited caution amid ongoing economic uncertainty and tariff tensions from President Trump’s policies.
The broader market’s bullish tone is evident, with Bitcoin inching closer to the $100,000 mark and the total crypto market cap climbing 1.2% to $3.175 trillion, according to CoinGecko. XRP, in particular, has benefited from this renewed investor confidence, notching a 3% gain in the past 24 hours.
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Fueling XRP’s momentum is a notable uptick in derivatives market activity. Open Interest (OI) in XRP futures rose 2.46%, while options OI jumped 20.45% to $1 million, indicating a surge in speculative interest. The long-to-short ratio of 1.0218 reveals that more traders are betting on price gains, reinforcing bullish sentiment.
Supporting this optimism is the behavior of XRP whales—wallets holding between 10 million and 100 million tokens. According to Santiment data, these holders have increased their share of the circulating supply from 10.47% to 12.22% since February, signaling strong confidence in the token’s upside potential.
Technically, XRP faces immediate resistance at the intersection of its 50-day and 100-day Exponential Moving Averages (EMAs), coupled with a descending trendline from January. A confirmed break above this zone could validate the bullish impulse and open the door to a retest of the psychological $3.00 level last seen in early March.
However, traders remain cautious. The SuperTrend indicator, still positioned above the price, suggests some overhead pressure. A failure to clear the $2.21 resistance could see XRP retreat toward its 200-day EMA at $1.99 or even the April low of $1.62.
Still, with the Relative Strength Index (RSI) showing strong upward momentum and macroeconomic tailwinds favoring risk assets, XRP may soon ride the wave to its next major milestone.