XRP is showing some very strong bullish signs! Its price has sky-rocketed by 6.2% over the last week, reaching $2.30 for the first time in a month. The cryptocurrency is sitting in recent week’s consolidation at the neckline resistance of an inverse head and shoulders pattern. Analysts predict it to continue climbing, possibly even up to $6.50. Increasing buyer momentum is giving rise to an optimistic outlook. With the release of XRP futures on CME Group coming up on May 19, this excitement may be taken to the next level.

At the time of writing, XRP was trading just above $2.20. Notably, the cryptocurrency’s Relative Strength Index (RSI) has started to increase, indicating that buyer momentum is strengthening. XRP waves Recently, XRP just finished the classic 5-wave structure, a classic signal that usually comes before consolidation or a new breakout.

XRP’s price was recently rejected between the $2.30 resistance and support at $2.11. The $7.00 price is presently consolidating near the neckline resistance of an inverse head and shoulders pattern. On the downside, the 100-day Exponential Moving Average (EMA) at $2.15 is important support. A break under $2.12 may spark another trip down to the $2.03–$2.06 range for XRP.

XRP price $2.49, $3.00 and $3.39 are key resistance levels for XRP price. As per market analysts, if it breaks above $3.00 it can form a strong support base for XRP’s next move upwards.

"The bullish scenario has a higher probability as the market structure remains intact" - Alejandro Arrieche

With modest recovery projections, we are still seeing forecasts indicating a possible increase to $6.50. As of May 10, 2025, would XRP rally above significant $3 resistance or get rejected and eventually correct back down toward the $1.61 support level?

Another thing boosting the positive sentiment is the recent successful launch of Ripple USD (RLUSD), XRP’s stablecoin. The market capitalization of RLUSD has increased from $60 million to close to $300 million in only two months! As a result, higher demand for RLUSD increases transaction volumes on the Ripple ledger, which asynchronously increases demand for XRP.

CME Group plans to launch XRP futures on May 19. Such remarkable growth can be expected to have a tremendous impact on XRP’s future prospects.

"The new XRP futures will help address the evolving needs of institutional and retail traders in the expanding digital asset space" - Giovanni Vicioso

According to the XRP price prediction, the price is likely to shoot past the $3 mark resistance and target a higher XRP price prediction of $6.82.

"Closing positions near $6.5 would be a wise strategy to avoid potential reversals" - Cryptarch.