- Ripple surged above $2.20 as bullish sentiment swept the crypto market following President Trump’s call for interest rate cuts and support for Fed Chair Powell.
- With rising open interest and strong technical indicators, XRP now eyes a breakout toward the $3.00 mark.
Ripple is back in the spotlight, surging past $2.20 as broader crypto markets ignite on the heels of U.S. President Donald Trump’s latest remarks. In a market-moving statement, Trump clarified he has “no intention of firing” Federal Reserve Chair Jerome Powell, despite earlier criticisms. Instead, the President urged Powell to “be proactive” and slash interest rates—an appeal that sent risk-on sentiment soaring.
This shift in tone from Trump comes as the administration hints at progress in tariff negotiations with China, adding fuel to the bullish fire across the crypto landscape. Bitcoin, Ethereum, and Solana all rallied during Tuesday’s U.S. session, and XRP joined the party with a powerful breakout above the $2.00 support level.
Ripple Eyes a Breakout as Bulls Take Control
At the time of writing, XRP is trading at $2.23, maintaining bullish momentum above key technical indicators. The daily chart reveals XRP is challenging a descending trendline, with the 50-day and 100-day Exponential Moving Averages (EMAs) providing immediate support around $2.22.
The Relative Strength Index (RSI) sits at a healthy 56.61 and continues to trend upward, suggesting buyers have the upper hand. A decisive move above these EMAs could trigger the next leg of the rally, with the $3.00 psychological resistance level firmly in sight.
Derivatives Data Signals Bullish Confidence—but Caution Remains
According to Coinglass, open interest in Ripple surged over 20% to $3.89 billion in the last 24 hours, while $8.46 million in short positions were liquidated. A long-to-short ratio above 1.02 reveals growing bullish bets—but it also hints at potential volatility ahead.
Traders should monitor for a strong daily close above the EMAs before increasing positions. Failure to hold above $2.00 could expose XRP to a steeper drop, potentially retesting the 200-day EMA near $0.96.
All Eyes on $3.00
With improving macro sentiment, bullish technicals, and a revitalized market, XRP’s rally could just be getting started. But with volatility lurking, caution and timing will be key as traders look to ride this wave to $3.00 and beyond.
