After nearly six months of consolidation and sideways trading, XRP is now on an uptrend, crossing major barriers. According to data from CoinGecko, the coin has recorded the most 7-day gains among the leading 10 cryptocurrencies by market cap.
As many other altcoins continue to struggle with breaking above vital resistance levels, XRP, issued by Ripple, broke free from the $2.00-$2.70 trading range earlier this week, hitting $3.16 as of this writing. The latest rally marks a significant shift in XRP’s price action, with many analysts anticipating more bullish moves, which could eventually enable the coin to set a new all-time high.
A Closer Look at the Wider Crypto Market
While XRP has been the biggest gainer in the last seven days, the broader market is generally bullish. Data from CoinMarketCap shows that over 80% of the top 100 cryptocurrencies by market valuation have rallied at least 5% this week. The optimistic tone in the digital asset market is evidenced by the Crypto Fear & Greed Index, which is currently in the “Greed” zone. Notably, the stock market has mirrored the performance of cryptocurrencies, with the Index entering the “Extreme Greed” zone for the first time in 2025.
But why are stocks and crypto rallying? You may ask. Well, Donald Trump’s “Big Beautiful Bill,” which could allow the US government to adjust the debt ceiling by $5 trillion, has raised concerns among investors, who are now shifting to crypto and stocks as they believe the bill could lead to inflation.
Another possible reason fueling the rally, particularly in crypto, is reduced geopolitical tensions in the Middle East following the Iran-Israel agreement to end the war. This calm environment, alongside increased interest in crypto ETFs among institutions, has likely created bullish conditions for altcoins.
Drivers Behind XRP’s Latest Bull Run
XRP’s rally to $3.17 has pushed its market cap to $185 billion, surpassing that of USDT ($165 billion) to become the third-largest crypto asset. As mentioned, the breakout at $2.70 has boosted the chances of the Ripple-issued token setting a new all-time high after crossing $3.40.
Besides the technical momentum, another catalyst that could drive XRP above $3.40 is the decision by the US Securities and Exchange Commission (SEC) to drop its appeal against Ripple late last month, ending a legal battle that has lasted for four years.
In 2020, the SEC accused Ripple of offering XRP tokens as unregistered securities to US investors. However, the court ruled in 2023 that Ripple did not violate any securities laws. But the SEC was not satisfied with the decision and filed an appeal in 2024.
Ripple Files a Bank Charter Application
Following the resolution of its legal issues, Ripple announced on July 2nd that it had applied for a bank charter, intending to become a financial institution that offers crypto custodial services to companies looking to add digital assets to their books. The news caused XRP to rally 3% that day.
It is worth highlighting that regulatory certainty around XRP has made investors more optimistic that the SEC will approve the 11 proposed spot ETFs. According to data from the Polymarket prediction market platform, there is an 85% chance that an XRP spot ETF hits the market before the year ends. Another prediction market, Myriad Markets, shows a 70% probability of such an ETF entering the US market in 2025.
XRP Technical Analysis
With XRP priced above $3, the Average Directional Index, known for measuring trend strength, has reached 34, suggesting a strong uptrend. Furthermore, the 50-period and 200-period Exponential Moving Averages have completed a bullish divergence, signaling a continued bullish move.
However, long traders should be cautious, considering the Relative Strength Index is in the overbought zone, indicating a possible price correction before the uptrend continues.
That said, if bullish momentum persists, XRP could rise above $3.40 and head toward $4. On the other hand, a dip to $2.35 is possible if $2.70 gives way.
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