Ripple’s $XRP is showing signs of a potential breakout, with traders increasingly optimistic that the token could soon return to its all-time high (ATH) of $3.3517. At the time of writing, XRP is trading at $2.37, down 2.18% in the last 24 hours but up 50% from April’s lows.
According to Polymarket, a decentralized prediction platform, the probability of $XRP
reaching its $Ath surged to 44% on May 23, up from 24% at the start of May. This growing optimism comes in the wake of Bitcoin’s recent rally to a new record high above $109,000, which has reignited bullish sentiment across the broader crypto market.
Renowned crypto analyst Credible Crypto added to the positive outlook, comparing XRP’s current consolidation phase near $2 to Bitcoin’s breakout move from $25K to $74K. He emphasized that the longer XRP remains in this tight trading range, the more significant its next move could be, referring to it as an “explosive next leg up.”
Another potential catalyst is anticipation of a spot $XRP ETF approval by the U.S. Securities and Exchange Commission (SEC). Polymarket traders currently assign an 85% probability that an ETF will be approved this year. JPMorgan analysts estimate that XRP ETFs could attract $4–8 billion in inflows during the first year. One such ETF, XXRP, has already amassed $121 million in assets, despite having a relatively high 1.89% expense ratio.
Meanwhile, Ripple is reportedly in acquisition talks with Circle, the issuer of USD Coin #UCDS . If finalized, this move would position Ripple as the second-largest stablecoin provider, trailing only Tether. The acquisition would also likely enhance the reach and utility of Ripple USD, the company’s own stablecoin launched in 2024.
In terms of adoption, institutional trading platform Hidden Road, which processes over $10 billion annually, is expected to migrate to the XRP Ledger. This development could significantly boost XRP network activity and transaction volume.
From a technical perspective, XRP continues to trade above its 50-week exponential moving average, a key support level since November 2024, and has successfully turned a long-term resistance zone into support. Chart analyst Dark Defender has set short-term and medium-term targets at $3.33 and $5.85, respectively. He described the next rally as a “bullet” move likely to test the upper range of the current price structure.
With strong market momentum, increasing institutional interest, and growing investor confidence, XRP appears well-positioned to challenge its all-time high in the near future.