Alright, hold onto your seats—XRP just skyrocketed almost 10% in a single New York trading day. And no, it’s not some miracle. The entire digital asset market was on fire, so of course, XRP joined the party. By Thursday, May 8th, it hit its highest point in two weeks. Analysts are pointing to some combo of macro relief, market mechanics, and this mysterious “alt-season” positioning. You know, the usual blend of random stuff that all came together for a brief moment of magic.
So, Why Is XRP Up Today? Here’s The Drama…
Well, surprise, surprise, it all started with some headlines. A shiny new trade deal between Washington and London calmed everyone down about tariffs. And just when you thought it couldn’t get better, news broke about US-China talks, which might lead to some kind of thaw in their epic trade battle. Ooh, how exciting!
This made the global macro desks shift into a “let’s take some risks” mood right as New York opened. Bitcoin was the first to feel the effects, charging past the psychological $100,000 mark. The demand was strong, so all the short-sellers had to scramble and buy back their positions. A “short squeeze,” if you will. And guess what? This little ripple effect swept through the altcoin world, and XRP just got swept up in the chaos.
And then came the magic of on-chain flow data. A crypto analyst named Dom (@traderview2) pointed out that the South Korean exchange Upbit—historically the XRP guru—had flipped from being a net seller to aggressively buying. In less than 48 hours! It’s like watching a soap opera, folks. Dramatic change.
“Finally, Upbit market changed their tune and are the strongest buyers over the last 24 hours,” Dom tweeted, while Binance casually absorbed 9 million XRP. And you know what? This was the most aggressive market buying we’ve seen in over a week. Wild stuff!
But wait! It gets even more exciting. Just a few days earlier, Dom had noted a massive 220 million XRP sold off, worth about $500 million. Talk about a 180-degree turn in sentiment. It’s like watching a reality TV show, and no one knows who’s going to make the next move.
Meanwhile, some technicians—don’t ask me, I just report it—noticed Bitcoin dominance slipping a bit. When this happens, capital tends to rotate into altcoins, and guess what? That includes XRP. Who saw that coming?
Dom even mapped out the market’s broader shift, noting that the total crypto market cap hit its uptrend, and he had some crazy thing to say about the “POC” levels and how they could be springboards. Technical jargon? Yes. Does it make sense? Who cares? It’s crypto!
Now, let’s talk about XRP’s chart. Dom made a bold prediction—XRP just broke its quarterly VWAP for the first time in 50 days. I know, I know, it sounds like some secret code, but basically, if XRP holds its ground, we might be looking at a nice little surge to $2.47. So, get your popcorn ready!
At press time, XRP was sitting at $2.31. Let’s see how this plays out. Will it keep climbing, or is this just another crypto rollercoaster? Stay tuned! 🧐🚀
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2025-05-09 20:01