XRP Rallies 17% In A Week, But Is The 'Market Top' In Sight?

by Khyathi Dalal Benzinga Staff Writer

Zinger Key Points

XRP has rallied 17% in the past week as ETF anticipation builds under incoming SEC Chair Paul Atkins.
A trader who accurately predicted previous XRP tops and bottoms now forecasts another market top.
This simple system has nailed 1,000+ post-earnings winners. Get in before Q3 trades take off →

XRP XRP/USD is back in the spotlight with a strong 17% weekly rally. Traders are growing increasingly optimistic about a potential ETF approval, but not everyone is convinced the move has more room to run.

What Happened: Crypto trader JayDee predicts that XRP could be nearing a market top.

He pointed to the stochastuc RSI nearing a close above 80, historically a strong signal for XRP.

JayDee reminded followers of his track record: calling the bottom at $0.28, the top at $3.37, and a 53% drop from $1.60. Now, he says, “I'm calling the market TOP next!”

Another trader, Hov, noted that XRP is currently testing resistance after a 35% bounce from his last update. He's eyeing a pullback to $1.87, which he sees as a must-hold level. If that support holds, he anticipates a possible C/3 wave long setup to follow.

XForceGlobal observed that lower timeframes show no bearish signals, with price action remaining corrective rather than impulsive.

This suggests that bullish scenarios are still in play, and if the current structure breaks to the upside, momentum could accelerate toward “astronomical highs.”

Trade Bitcoin, Ethereum, and More Instantly — No Wallets, No Hassle

Speculate on price movements, claim up to $200 in bonuses, and start with risk-free paper trading with crypto futures on Plus500.

Disclosure: 82% of retail CFD accounts lose money

Also Read: XRP Will Overtake Ethereum By 2028: Standard Chartered

Why It Matters: The surge in XRP comes amid a pivotal moment for crypto regulation, as Paul Atkins prepares to take over as the new SEC Chair.

Analysts say his leadership could mark a more crypto-friendly era, especially with multiple ETF applications approaching deadlines.

According to Kaiko, XRP's trading volume on U.S. exchanges has reached its highest level since the 2021 SEC lawsuit, despite the coin lacking a major futures market and most volume still occurring offshore.

Still, the options market remains cautious. There’s a noticeable bearish skew in implied volatility leading up to the April 18 expiry, likely due to macro uncertainty and regulatory overhang.

A key date on the calendar is May 22, when the SEC is expected to respond to Grayscale's spot XRP ETF filing — a decision that could reshape not only XRP's future but also the broader ETF landscape.

Read Next: