The crypto market is showing renewed signs of life, and Ripple’s XRP is among today’s top performers. On May 7, XRP saw a notable price jump amid rising optimism over a potential trade agreement between the US and China, with talks set to take place in Switzerland.
🔹 XRP breaks losing streak, tests key resistance
XRP rallied nearly 2%, reaching $2.16, ending a four-day downward trend. While the price is still facing resistance from the 50 and 100 EMA levels, it continues to show strong bullish momentum.
Though the MACD recently showed a bearish crossover, some indicators suggest XRP may break higher if it overcomes the current resistance zone.
🔹 Geopolitics in focus: US and China return to the table
The key driver of this surge is not just technical — it’s geopolitical. US Treasury Secretary Scott Bessent announced plans to meet with a Chinese delegation in Switzerland over the weekend to restart trade negotiations.
"The world is aligning with the US. China is the missing piece. We need a joint agreement,” Bessent said.
He also hinted that tariffs and trade barriers are unsustainable, and the US aims to bring back key industries like steel and semiconductors.
🔹 China confirms attendance: real chance for progress?
China’s Ministry of Commerce confirmed that Vice Premier He Lifeng will attend the meeting. According to their statement, China chose to engage due to global pressure, national interest, and lobbying from US businesses.
This immediately boosted market sentiment — both NASDAQ 100 and S&P 500 rose nearly 1%, despite a slow start to the day.
🔹 Crypto reacts: altcoins rise, XRP leads
Crypto markets surged on the news. Bitcoin (BTC) jumped nearly 3%, and Ethereum gained over 1.5%. XRP, which is highly sensitive to global policy developments, climbed 1.85%, fueled further by speculation of a technical breakout.
📌 Conclusion:
XRP is benefiting from renewed global market optimism. If the US and China reach a deal, it could mark a turning point not only for global trade but also for risk assets like cryptocurrencies — with XRP positioned as a potential big winner.
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