Why did XRP rise yesterday? Key reasons revealed
In just one trading day in New York, $XRP surged nearly 10%, reflecting fierce bidding across the digital asset complex, closing 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 period and amplified each other.
The calmer outlook led global macroeconomic analysts to a risk-on stance just as New York was opening, and Bitcoin responded first, catapulting to the psychologically loaded $100,000 level, thanks to strong spot demand. The vertical move 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.
