XRP Price News: Breakout Likely as Volumes Shot Up After $1.50 Retest

XRP (XRP) has gone up by 8% in the past 24 hours, and the token has once again tagged the $1.50 threshold.

Trading volumes shot up by 210% in the past 24 hours, rising to $3.7 billion. This figure accounts for over 4% of the asset’s circulating market cap and confirms the technical relevance of this price level.

Geopolitical tensions remain high, but cryptocurrencies seem to be ignoring the situation altogether. Oil prices jumped back above $100 briefly after Trump rejected Iran’s peace deal.

Negotiations seem to have reached a stalemate, as Iran does not seem to be willing to give up on their aspirations to advance with a nuclear program.

Despite the situation in the Middle East, investors seem to be growing more confident about the future of the crypto market, just days ahead of a leadership change at the U.S. Federal Reserve.

Kevin Warsh is expected to take office and replace the current head of the Fed, Jerome Powell, on Friday, and the markets remain expectant about how Warsh will approach monetary policy moving forward.

The consensus is that he will be more dovish than Powell, but analysts no longer expect a rate cut in 2026.

Crypto ETPs Bring Positive Inflows For Six Weeks in a Row

The latest report from CoinShares indicated that exchange-traded products (ETPs) linked to cryptocurrencies brought in $858 million in positive net inflows last week. This would be the sixth week in a row that investors pour money into these vehicles, reflecting a strong shift in market sentiment.

“This likely reflects improving sentiment around the CLARITY Act, with senators Tillis and Alsobrooks releasing the final compromise text on stablecoin yield on 1st May and holding firm against banking-industry pushback on 4th May,” analyst James Butterfill highlighted.

XRP ETFs received nearly $40 million in inflows according to the report, bringing the total assets under management (AUM) of these ETPs to $2.6 billion.

Sentiment has remained neutral lately, as market participants are still waiting for a more decisive breakout above key levels before jumping back into the market. The Crypto Fear and Greed Index currently sits at 50, reflecting a cautious attitude.

However, we saw a spike in daily short liquidations during the weekend as XRP hit $1.50. Bears were squeezed out of $6 million worth of XRP shorts – the highest single-day print since mid-March.

In addition, open interest (OI) in the futures market jumped to its highest level since January 30. These could all be early indications that the market is ready to get moving.

Weekly Buy Signal Could Push XRP 400% Higher

Bitcoin (BTC) and Ethereum (ETH) have spearheaded the recovery with the strongest monthly gains, but top altcoins like Solana (SOL) and XRP (XRP) are already exhibiting signs that they are ready to catch up.

Same as what we are seeing across the entire market, XRP’s historical trends in the weekly chart favor a bullish outlook.

The Relative Strength Index (RSI) in this higher time frame has recently sent a buy signal upon dropping below 32. The last three times this has happened, XRP has delivered gains ranging between 208% and 1,480%.

The token is also hovering above the 200-week exponential moving average (EMA) while the RSI just crossed above the signal line. This has been the ideal moment to buy in these previous instances.

We expect strong gains ahead for XRP, possibly ranging between 200% and 400%, within the next 12 months if these historical patterns repeat.

Daily Chart Anticipates Move to $1.72 If This Happens

Heading down to the daily chart, we can see the key levels to watch for a swing trade. The $1.50 sell wall acted against the latest rally once again, but we are already seeing buyers showing up during the American session today.

The odds of a breakout above this mark are high right now, especially as trading volumes confirm a spike in both short liquidations and buying pressure. The RSI just crossed above the 60 mark in this time frame, which means that bullish momentum is accelerating.

If we break past the $1.50 barriers, the odds of a move toward $1.65 – $1.72 will rise dramatically. This means a 10% upside potential and creates room for a long position that could yield attractive results in the short term.

The $1.72 area is the most likely ceiling for XRP in the short term, as this area coincides with the 200-day exponential moving average (EMA). If the price rises past this mark, we could officially call the end of this bear market, especially as top tokens like BTC and ETH are performing quite well, too.

Next Buy Signal Could Create Room for 3X Trade

The 4-hour chart gives us a better idea of the game plan in case of a break above $1.50. We would wait for a buy signal from our system to confirm that “institutional” volumes are backing the move.

If we get that, the ideal entry would come after a retest of that level. If the stop price is still at around $1.43 and the take-profit target at $1.65, this would result in a 3x risk-reward ratio. The RSI in this lower time frame stands at 63, meaning that momentum is on the side of the bulls.