#AltcoinSeasonLoading Why did XRP rise yesterday? Key reasons revealed

In a single trading day in New York, $XRP soared nearly 10%, reflecting a fierce bidding across the digital asset complex, and closed on Thursday, May 8, at its highest level in about two weeks. Analysts attribute this surge to a combination of macroeconomic relief, order book dynamics, and renewed positioning in the altcoin season: factors that coincided during a limited period 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 move forced short sellers to buy back their exposure; that 'short squeeze,' by its self-reinforcing definition, quickly spread to major altcoins and propelled XRP along with the rest of the market.