$XRP is having a booming trading day, rising from around 2.15 USD to 2.8 USD in just 24 hours – an increase of 30%. This is a strong signal, especially in the context of the crypto market still facing much volatility. Let's take a look at the key factors:

Market Sentiment:

Optimism about XRP is on the rise. Rumors of an XRP ETF in Brazil, along with expectations from institutional investors, are boosting the community's enthusiasm. On X, many posts predict that XRP could reach 5 USD, with some even dreaming of 27 USD – although this seems a bit far-fetched in the short term.

Technical Analysis:

XRP has just broken through the important resistance level at 2.55 USD and is currently hovering around 2.8 USD. If it can maintain the support level of 2.75 USD on the 4-hour chart, the price could target 2.94 USD or even 3.4 USD – a mark that confirms a long-term upward trend. However, the RSI indicator may be approaching the overbought region (above 70), suggesting a risk of short-term correction. The possibility of a pullback to 2.5-2.6 USD is not out of the question.

Trading Volume:

Recent data from X (post by @tapchibtc_io) shows that the on-chain trading volume of XRP has decreased by 60%, yet the price is still rising sharply. This implies that immediate buying or futures contracts are leading, which could be a sign of FOMO (fear of missing out) from retail traders.