The price of XRP jumped more than 5% on Wednesday as the wider crypto market recovered. It climbed to $1.42, up nearly 30% from its lowest level this month.
The rally followed gains across the market. Bitcoin rose above $66,500, while Ethereum moved closer to the key $2,000 level. Other altcoins like Polkadot and Avalanche also posted strong gains.
XRP’s market cap climbed to around $86.6 billion as total crypto market value rose above $2.4 trillion. The move also came as U.S. stock futures gained, with the Dow, Nasdaq 100, and S&P 500 all pointing higher.
There was also fresh demand for XRP-linked products. Spot Ripple ETPs recorded over $3 million in inflows after two quiet days. Futures open interest rose to $2.3 billion, while spot trading volume hit $3.1 billion.
On the technical side, XRP formed a doji candlestick before the rebound. That pattern often signals a possible trend reversal. The chart also shows a double-bottom pattern near $1.34, with resistance at $1.66.
If buyers stay in control, the price could test $1.66, which would mean another 17% upside from current levels.
However, traders remain cautious. The move could be a “dead-cat bounce,” where price briefly rises before continuing its downtrend. A break above the 100-day EMA and a flip in the Supertrend indicator would strengthen the bullish case.
For now, XRP’s rebound looks strong — but whether it turns into a full rally or fades again will depend on momentum in the broader market.
