XRP Price Forecast: XRP Jumps 7% to $2.25—Can It Reach $3?

XRP has seen a substantial price increase, rising by 7% to $2.25, demonstrating a powerful rebound from recent declines. This surge has reinvigorated investor confidence, prompting debates among analysts about whether XRP’s value can maintain its current upward trajectory and reach the critical $3 mark.

The recent uptick comes after a rebound from the $2.10 support level, hinting at a potential shift in market sentiment. Despite remaining within a descending trend according to technical indicators, Ripple XRP is displaying initial signs of a breakout. Key resistance levels at $2.40 and $2.60 must be overcome before a possible surge towards $3 can be considered. A successful breach beyond these levels might open the door to further gains.

XRP’s recent performance appears to be closely linked to global macroeconomic events. Particularly noteworthy was the sudden policy reversal by former President Donald Trump, where he abandoned plans to impose new tariffs on Canadian metals. This decision alleviated concerns about a trade war, sparking a rally in risk assets and cryptocurrencies.

Sen. Cynthia Lummis has also reintroduced the BITCOIN Act, suggesting the potential purchase of 1 million BTC by the US government. While Bitcoin is the primary focus, speculations have emerged that other digital assets, including Ripple cryptocurrency, could be included in a government-backed reserve.

Institutional interest in XRP is bolstering its price performance, with over 500 banks now offering XRP custody services, solidifying its role in cross-border payments. Furthermore, the anticipated approval of a spot XRP ETF has gained traction, with major asset management firms like Franklin Templeton engaging in the process to launch such a fund.

Despite these positive developments, regulatory uncertainties persist. The US Securities and Exchange Commission (SEC) recently postponed its decision on several crypto-related ETF proposals, including XRP. Market analysts suggest that the appointment of Paul Atkins as the new SEC Ripple chairman in April could signal a step towards regulatory clarity.

Technically, Ripple’s price is maintaining support at $2.10, a bullish sign that could lead to resistance tests at $2.29 and $2.40. A successful breakout might pave the way for a climb towards $2.84 and $3.40, the peak XRP reached in early January.

Looking forward, the XRP price outlook hinges on various factors, such as regulatory advancements, institutional demand, and macroeconomic conditions. While the recent surge is encouraging, sustained momentum will depend on market liquidity, overall sentiment, and external economic circumstances. Traders must closely monitor support and resistance levels to gauge the token’s performance.

In conclusion, as XRP experiences a 7% surge, it remains a significant focal point for traders and investors. The convergence of institutional adoption, positive macroeconomic developments, and regulatory clarity could propel XRP towards breaking the $3 milestone. The upcoming weeks will play a crucial role in determining whether this bullish trend strengthens or if XRP encounters another correction.