By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Thursday, 31 Jul 2025
Buy Crypto
Crypto News, Bitcoin & Ethereum Prices Today - CryptoNewsPub Crypto News, Bitcoin & Ethereum Prices Today - CryptoNewsPub
  • Bitcoin
  • Ripple
  • Dogecoin
  • Altcoins
  • Crypto Regulation
Font ResizerAa
CryptoNewsPubCryptoNewsPub
Search
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Ripple

Why is the XRP price surging today?

Last updated: May 9, 2025 7:50 am
By Marcel Ginkel
Why is the XRP price surging today?
Why is the XRP price surging today?
SHARE

XRP price update: Trump Trade Deal, Whale Activity, and Breakout Spark Rally

The XRP price is making headlines today with a sharp upward move. On May 8, it surged by 7.5%, reaching an intraday high of $2.27 — its highest level in weeks. This bullish momentum is driven by a combination of geopolitical news, strong whale accumulation, and a key technical breakout.

Contents
XRP price update: Trump Trade Deal, Whale Activity, and Breakout Spark RallyTechnical breakout confirms bullish momentum

Trump’s trade deal fuels risk appetite

Former U.S. President Donald Trump ignited market optimism with a bold social media announcement. He revealed a “major trade deal” with a “highly respected country,” later confirmed to be the United Kingdom. The deal reportedly includes lower tariffs on automobiles and steel.

This geopolitical development boosted investor confidence in risk assets. Futures on the S&P 500 rose 1.5% ahead of the U.S. market open, helping lift the broader crypto market — including XRP.

Interestingly, XRP’s correlation with the stock market has grown stronger since late 2024. On May 8, its 52-week correlation coefficient with the S&P 500 was 0.54, reflecting an increased sensitivity to macroeconomic events.

Whales accumulate XRP aggressively

While retail traders cautiously watch the charts, large holders — known as whales — have been quietly stacking XRP. Data from Glassnode shows a consistent rise in the number of wallets holding at least 10,000 XRP. This trend has been ongoing for months, even during price dips.

The accumulation suggests rising confidence among institutional and large-scale investors. Some of this buying may be driven by expectations of a favorable outcome in Ripple’s ongoing lawsuit against the SEC. Others speculate on the potential approval of a spot XRP ETF.

As buying pressure from whales increases, the foundation for a sustained rally becomes stronger.

Technical breakout confirms bullish momentum

From a technical perspective, XRP just broke through a critical resistance line that has capped its price since January 2025. This line formed part of a broader “falling wedge” pattern — typically viewed as a bullish reversal signal.

With the breakout above $2.20, analyst Mags now forecasts a 30% upside toward $2.80. If momentum continues, XRP could reach as high as $3.66 — a target based on the wedge’s maximum height projected from the breakout point.

Still, risks remain. Analysts warn that XRP must hold above $2.20 to maintain its bullish trajectory. A drop below this level could trigger a correction toward the 200-day exponential moving average (EMA), currently near $2.00.

The coming days will be crucial. If XRP holds firm above $2.20, the rally may continue — but any weakness could send the price back into consolidation territory.

TAGGED:RippleXRP
ByMarcel Ginkel
Follow:
Marcel is the enthusiastic owner and editor-in-chief of CryptoNewsPub, the go-to source for the latest news, sharp analyses, and groundbreaking insights into the world of cryptocurrency and blockchain. With his passion for decentralization and innovation, he makes complex developments clear and accessible to both novice crypto enthusiasts and seasoned traders. Marcel’s articles inspire, inform, and empower you to embrace the digital financial revolution with confidence.
Previous Article $117M Flows into Spot Bitcoin ETFs on May 8 $117M Flows into Spot Bitcoin ETFs on May 8
Next Article Shiba Inu Price set to surge after 4,833% burn spike Shiba Inu price set to surge after 4,833% burn spike

Buy Crypto

You Might Also Like

Ripple boosts XRP holdings as escrow supply drops

Ripple boosts XRP holdings as escrow supply drops

By Marcel Ginkel
Ripple Announces Major Shift in XRP Markets Report

Ripple announces major shift in XRP Markets Report

By Marcel Ginkel
Ripple USD gains momentum: Gemini lists new stablecoin

Ripple USD gains momentum: Gemini lists new stablecoin

By Marcel Ginkel
XRP prediction may 2025: Are whales pushing price to $4?

XRP prediction may 2025: Whales pushing price to $4?

By Marcel Ginkel
Crypto News, Bitcoin & Ethereum Prices Today - CryptoNewsPub Crypto News, Bitcoin & Ethereum Prices Today - CryptoNewsPub

About US

CryptoNewsPub Live News: We bring you the latest cryptocurrency news, expert analysis, and price updates — all in one place.

Top Categories
  • Bitcoin
  • Ripple
  • Altcoins
  • Dogecoin
  • Crypto Regulation
Usefull Links
  • About Us
  • Terms & Conditions
  • Disclaimer
  • Editorial Policy
  • Accessibility Help

© CryptoNewsPub. All Rights Reserved.