$XRP Why did XRP rise yesterday? Key reasons revealed

In a single trading day in New York, $XRP surged nearly 10%, reflecting a fierce bidding across the entire digital asset complex, and closed on Thursday, May 8, at its highest level in about two weeks. Analysts attribute this rally to a combination of macroeconomic relief, order book dynamics, and renewed positioning in the altcoin season: factors that coincided in a limited timeframe and amplified each other.

The calmer outlook led global macroeconomic analysts to a risk-on stance just as New York opened, and Bitcoin responded first, catapulting to the psychologically charged level of $100,000, thanks to strong spot demand. The vertical movement forced short sellers to buy back their exposure; that "short squeeze", by definition self-reinforcing, quickly spread to major altcoins and propelled XRP along with the rest of the market.