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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Why Is XRP Up Today? Key Reasons Revealed

Jake Simmons
Jake Simmons
3 months ago
3 mins read
XRP price news

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In a single New-York trading day, XRP surged almost 10%, mirroring a ferocious bid across the entire digital-asset complex and closing Thursday, 8 May at its highest mark in roughly two weeks. Analysts trace the rally to a cocktail of macro relief, order-book mechanics and renewed alt-season positioning—factors that coincided in a narrow window and magnified one another.

Why Is XRP Up Today?

The initial spark came from macro headlines. News of a fresh trade accord between Washington and London tempered fears of escalating tariffs, while word of forthcoming minister-level talks between US and Chinese officials signalled a potential thaw in the world’s most consequential bilateral trade standoff.

The calmer outlook flipped global-macro desks into a risk-on stance just as New York opened, and Bitcoin responded first, catapulting through the psychologically loaded $100,000 handle on a strong spot demand. The vertical move forced short sellers to buy back exposure; that “short squeeze,” by definition self-reinforcing, spilled rapidly into major altcoins and lifted XRP alongside the broader tape.

Related Reading

XRP price news

VWAPs Don’t Lie—XRP Faces Judgment Day At Monthly Support

3 months ago

On-chain flow data added a powerful regional twist. Crypto-market analyst Dom (@traderview2) noted that the South-Korean exchange Upbit—historically an XRP bellwether—flipped from net seller to aggressive accumulator in less than forty-eight hours.

“Finally Upbit market changed their tune and are the strongest buyers over the last 24 hours,” he posted to X, specifying that Binance followed closely with a net 9 million XRP absorbed. “We are seeing the strongest taste of aggressive market buying that we have seen in over a week. Key is to see it continue.”

XRP spot CVDs
XRP spot CVDs | Source: X @traderview2

The volte-face was striking because only 6 May the same commentator had tallied 220 million XRP in cumulative net sales on the KRW pair since 11 April—roughly $500 million of distribution. The reversal underscores how swiftly sentiment can shift when liquidity concentrates in a handful of regional venues.

Technicians, meanwhile, drew attention to inter-market breadth. Bitcoin dominance, a gauge that measures the flagship token’s share of total crypto market capitalization, slipped from 65.38% to 64.43%—its sharpest single-day contraction in weeks and a classic tell that capital is rotating into altcoins.

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XRP Price Repeating History? 2017-Like Rally To Send Price To $10

3 months ago

Dom mapped the shift onto higher-time-frame structure, writing that “TOTAL, the total market cap of crypto, has just hit its uptrend it has held over the last 18 months […] This also coincides with the POC of the volume profile since late 2023.”

Point of Control (POC) levels are where the largest amount of volume has historically traded; rebounds from such nodes often act as springboards. In a follow-up post he added, $TOTAL has regained its 2021 highs—yes, all you needed to do was bid the apex of support and the multi-year uptrend.”

TOTAL analysis
TOTAL analysis | Source: X @traderview2

The same pivot is visible on XRP’s own chart. Dom highlighted that bulls “just breached the quarterly VWAP for the first time in 50 days… If it can hold as support, I am looking at the ATH VWAP as the next stop (US $2.47).” While that target lies some distance above Thursday’s closing price, the break of a multi-week volume-weighted average price is, in technician parlance, a changing-of-the-guard signal that often forces trend-following algorithms to flip long.

XRP VWAP analysis
XRP VWAP analysis | Source: X @traderview2

At press time, XRP traded at $2.31.

XRP price
XRP price, 1-day chart | Source: XRPSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com
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Jake Simmons
Jake Simmons

Jake Simmons

Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with NewsBTC.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field.

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His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone.
With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake’s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage.

Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control.

For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality.

As a journalist, Jake’s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies.

In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it’s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake’s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time.

You can engage with his latest takes on Twitter: @realJakeSimmons.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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