The bullish rally, fueled by technical indicators and shifting macroeconomic dynamics, has traders asking whether Ripple's native token can break through resistance and retest the $3 mark later this May.

According to market data, XRP is currently trading around $2.40, maintaining an upward trajectory despite short-term volatility.

The bullish rally continues, and with technical indicators flashing positive and macroeconomic dynamics shifting in favor of risk assets, traders are discussing whether Ripple’s native token can break through to retest the $3 mark later this May.

According to Benzinga, analysts at Aliチャート on X (formerly Twitter) point out that the SuperTrend Indicator turned green for the first time since March as XRP broke above the $2.36 resistance.

The last time this occurred—in November 2024—XRP went on a parabolic move, surging from $0.50 to over $3.30.

“The breakout above $2.36 triggered a new buy signal,” said on-chain analyst Aliチャート, adding that a move beyond $2.50 could open the door to targets of $2.70 and $2.48.

Inverse head-and-shoulders pattern identified by analyst Jeff Moore adds further weight to these projections, with extended targets ranging up to $3.10.

Key Takeaways:

* XRP price currently hovering around $2.34-$2.40 as it consolidates gains.

* Immediate resistance at $2.45-$2.50, a decisive break above could open the door for a move towards $2.70.

* Support levels to watch are $2.32 and $2.28.

* Downside breakout point at $2.05, below which the bullish setup may be invalidated.

* Open Interest (OI) saw a 2.21% decrease in the past 24 hours, indicating some cautionary sentiment in the derivatives market.

* Total Long Liquidations amounted to $8.85 million in the past 24 hours, whereas Short Liquidations reached $762,000, highlighting the ongoing volatility.

Chart: XRP 8-Hour

Several technical signals support the bullish outlook.

Crucially, the SuperTrend Indicator turned green for the first time since March as XRP broke above the $2.36 resistance. The last time this occurred—in November 2024—XRP went on a parabolic move, surging from $0.50 to over $3.30.

“The breakout above $2.36 triggered a new buy signal,” said on-chain analyst Aliチャート on X (formerly Twitter), adding that a move beyond $2.50 could open the door to targets of $2.70 and $2.48.

Inverse head-and-shoulders pattern identified by analyst Jeff Moore adds further weight to these projections, with extended targets ranging up to $3.10.

According to market data, XRP is currently trading around $2.40, maintaining an upward trajectory despite short-term volatility.

Analysts attribute this move to a breakout above a long-standing descending trendline, coupled with growing optimism following the partial resolution of the XRP SEC lawsuit.

Recently, the U.S. Securities and Exchange Commission (SEC) and Ripple agreed to settle the lawsuit. This will payout to the government is significantly less than what the regulator had initially claimed.

This outcome is viewed by many market participants as a win for Ripple and the crypto community at large.

According to a source familiar with the Ripple legal team, the deal provides badly needed clarity and closure.” The court must still approve, but the ruling has already infused new life into Ripple XRP news reports and investor demand.

This solution marks a turning point for the Ripple market, which has long been shadowed by regulatory uncertainty. Improved clarity around SEC Ripple policies, especially with Paul Atkins leading a more crypto-friendly SEC, could provide a more stable environment for Ripple exchange activity going forward.

As part of a broader altcoin recovery, driven by Bitcoin’s surge past $104,000 and Ethereum’s 26% weekly gain, XRP’s rally has also been a subject of discussion.

In the seven days, the Ripple currency price has seen an increase of over 9%, trading volume has surpassed $4.2 billion, and the total market cap has reached $140 billion.

Furthermore, recent reports from Onchain Lens via X highlight a major whale placing a 2x leveraged long on XRP by depositing 5,843,365 USDC into HyperLiquid.

This same investor previously profited from a leveraged ETH position and now appears confident that XRP has more room to run.

Meanwhile, geopolitical optimism, spurred by a recent U.S.-U.K. trade pact and ongoing discussions with China, is boosting global investor confidence. The Fear and Greed Index has surged to 78, marking a sharp rise from last week’s neutral reading of 49.

Key Levels to Watch As XRP Consolidates

Despite the