Is The XRP Price Rally Over At $2.22? New Developments Suggest Major Pump Is Coming
Summary
XRP price surged to $2.22 following positive comments from US President Donald Trump regarding reduced tariffs on China, but has since begun to retrace, indicating a potential local top. The CME Group announced plans to launch cash-settled futures contracts for XRP on May 19, pending SEC approval, allowing investors to speculate on XRP price movements without owning the asset. This news has been well-received in the XRP community, with Ripple CEO Brad Garlinghouse highlighting its significance for market growth. Despite a recent price decline, sentiment remains positive, with 88% of votes on CoinMarketCap bullish. Analyst Armando Pantoja noted potential bullish momentum, targeting a price increase to $2.50, a 20% rise from current levels.
