XRP News Today: XRP Hits 7-Week High Amid BlackRock Buzz and Global Trade Talks Fueling Extreme Greed

XRP surged to a seven-week high this weekend, briefly touching $2.48 before retracing slightly near the $2.40 support, suggesting potential for further gains ahead. The rally was largely fueled by speculation that BlackRock may soon file for an XRP-spot ETF—an event that could significantly reshape market sentiment and demand for Ripple’s native token. The XRP price jumped 5.44% on Saturday, May 10, driven by renewed investor optimism surrounding institutional adoption and potential resolution in the ongoing XRP lawsuit. XRP Climbs on BlackRock ETF Hype and Legal Developments A leaked letter posted by a crypto enthusiast claimed BlackRock had held discussions with the U.S. Securities and Exchange Commission (SEC) about expanding its crypto ETF offerings. While the asset manager has yet to confirm an XRP spot ETF filing, the rumor was enough to ignite enthusiasm among traders. “BlackRock XRP ETF is coming soon!” the post read, pointing to a broader shift in the SEC’s openness toward digital asset exchange-traded products. BlackRock is in talks with the SEC Crypto Task Force to pave the way for an XRP ETF approval. Source: XRP Dragon via X Although BlackRock has not commented, its previous silence and its massive success with the iShares Bitcoin Trust (IBIT)—which has attracted over $44 billion in inflows—suggest the firm could be laying the groundwork for additional crypto market exposure, including XRP. Ripple Price Holds Gains as Traders Eye Breakout XRP’s weekend performance underscored a positive technical setup. On the daily chart, XRP closed near the $2.48 mark, signaling bullish continuation. Analysts observed that if the token can decisively break above the $2.50 resistance level, it could open the door to testing higher zones near $2.75 and beyond. XRP price was ranging from $2.35 to as high as $2.47 on May 11. Source: XRP Liquid Index (XRPLX) via Brave New Coin According to CoinStats, XRP rose from $1.68 to $2.41 within 24 hours, a gain of roughly $0.73. The market-wide rally also contributed to the momentum, but XRP stood out with a particularly strong performance among large-cap tokens. Despite this, profit-taking capped gains below $2.50. Market analysts believe XRP needs sustained volume and a strong daily candle close above $2.475 to unlock further upside. “A breakout above this level could unleash enough bullish energy to test the $2.60 area,” noted Sophie Kim in a report for TokenPost. XRP Lawsuit Update: SEC Settlement May End Legal Battle Another major catalyst in XRP’s rise is a possible resolution in the Ripple lawsuit. The SEC has reportedly filed a settlement letter with the court, requesting the removal of the longstanding injunction against Ripple’s institutional XRP sales. The regulator also hinted that it will cut Ripple’s $125 million penalty to a lesser figure, most likely making a way for the two to forego their reciprocal appeals. If approved, this would mark the conclusion of perhaps one of the most important legal fights in the crypto world. Ripple has argued for some time now that XRP is not a security, and a favorable court decision could open the door to institutional investment. Legal expert Eleanor Terrett noted the regulatory tone has shifted dramatically in recent months. “The Crypto Task Force has now held nearly 100 meetings with industry participants since February. That’s a stark contrast to the last four years,” she said. This potential legal clarity could remove a long-standing cloud over the Ripple crypto project, boosting investor confidence and legitimizing XRP further in the eyes of regulators and institutions. Ripple Market Sentiment Hits ‘Extreme Greed’ The broader market mood is also amplifying XRP’s rally. According to the Ripple (XRP) Fear and Greed Index, investor sentiment has reached “Extreme Greed” levels, with a reading of 65. This marks a significant rise from 49 just a week earlier, reflecting a sharp turnaround in market mood. XRP’s Fear and Greed Index has surged to 65, signaling strong greed after jumping from 49 just a week ago. Source: cfgi.io Social volume, price momentum, and bullish technical indicators all point to heightened investor activity. Notably, XRP has now tested the $2.50 resistance level three times in the past month, each time facing rejection due to profit-booking and market hesitancy. However, current momentum suggests another breakout attempt may be imminent. “Volume remains elevated, with weekly averages trending 38% above the 30-day mean,” noted analysts from CoinGape. The sustained interest, coupled with strong technical support at $2.24, could create a base for XRP to aim higher in the coming sessions. US-China Trade Talks Add to Global Risk Appetite Adding to the bullish sentiment is an improvement in global macroeconomic sentiment. High-level trade talks between the U.S. and China resumed in Geneva over the weekend, raising hopes of reduced tariffs and softer trade policies. President Donald Trump’s recent comments indicated flexibility in ongoing negotiations, stating, “80% tariff on China seems right! Up to Scott B,” referring to U.S. Treasury Secretary Scott Bessent. Analysts believe that Trump’s softer stance could help ease inflation fears and inject renewed confidence into risk assets like cryptocurrencies. These geopolitical developments are contributing to capital rotation into digital assets, especially those with strong institutional narratives—such as XRP. XRP Price Prediction: Aiming for $2.75 and Beyond As XRP continues to trade firmly above the 50-day and 200-day exponential moving averages, the technical configuration is still bullish. With the Relative Strength Index (RSI) of 63.30, there is still ample space for a move higher prior to reaching overbought status. XRP aligns with the weekly 61.8% Fib level, eyeing targets at $3.20–$3.43. Source: ThatBeardedDude on TradingView Market watchers are now setting their sights on $2.75 as the next key price target. A successful breach of the immediate resistance could open the floodgates towards the $3.00 psychological level and potentially test the 2025 high of $3.3999, especially if regulatory clarity arrives sooner rather than later and BlackRock’s ETF speculation gains credibility. Conversely, a dip below the support at $2.24 will invalidate the short-term bullish story, subjecting the price of XRP to a potential retracement to $1.93. Final Thoughts XRP is currently navigating a pivotal moment, balancing between technical resistance and strong bullish fundamentals. Speculation about a BlackRock XRP-spot ETF, progress in the XRP SEC lawsuit, and global economic optimism are aligning to provide significant tailwinds. Whether XRP can convert this momentum into a sustained rally will depend on developments in the Ripple lawsuit update, SEC ripple posture, and broader market sentiment. For now, traders and investors are closely watching the $2.50 mark, which could unlock the next leg in XRP’s journey toward new highs. Source: https://bravenewcoin.com/insights/xrp-news-today-xrp-hits-7-week-high-amid-blackrock-buzz-and-global-trade-talks-fueling-extreme-greed