Why is XRP up today (October 18)?
XRP rose to $2.35, gaining 4.77%, as a wave of renewed optimism swept through the cryptocurrency market.
Bitcoin and Ethereum both advanced, setting the tone for a risk-on shift across digital assets. Improved sentiment in global markets and a slight easing of volatility helped lift altcoins broadly, with XRP among the top performers of the day. Traders attributed the recovery to a mix of technical factors and macro tailwinds, marking a pause in the recent sell-off. The move reinforces XRP’s strong correlation with the broader crypto complex.
Macro tailwinds and whale accumulation fuel gains
Investors responded positively to fresh macroeconomic signals suggesting that interest rates may stay low or face cuts sooner than expected. Such accommodative policy cues tend to drive capital back into speculative markets, including crypto. On-chain analytics also show increased accumulation by large XRP holders, a pattern often interpreted as institutional confidence.
This accumulation not only reduces available supply on exchanges but also encourages retail momentum. The combination of macro relief and whale activity has given XRP the liquidity support it needed for a short-term rebound.
Kharitonov: technical breakout and regulatory optimism support momentum
According to Anton Kharitonov, XRP’s rise is being validated by a technical breakout above resistance levels, which has attracted momentum traders and short-term buyers. He also notes that regulatory optimism—including ongoing ETF speculation and broader institutional infrastructure developments—continues to underpin the narrative for XRP’s long-term utility.
Kharitonov stated:
“The current upside in XRP is being driven by a convergence of improved macro conditions and technical breakout momentum — if this holds, we could see a move toward the next resistance around ~$3.50. That said, execution on institutional infrastructure and regulatory clarity will determine whether the rally is sustained.”
Kharitonov adds that these drivers, alongside improving macro sentiment, have created a favorable short-term setup for the token. He sees the $2.40–$2.50 zone as the next test for sustained strength, with upside potential if crypto market momentum remains intact.
Recently we wrote that Ripple is reportedly involved in a potential joint fundraising effort to purchase up to $1 billion worth of XRP tokens, fueling speculation around its motives as it already holds about 35 billion XRP in escrow.
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