XRP XRP/USD roared back into momentum on Monday, as investors welcomed President Donald Trump's temporary relief on tariffs.
What happened: XRP rallied as much as 20%, recouping losses taken on ‘Black Sunday,' which saw the third-largest cryptocurrency by market value fall to two-week lows.
In fact, XRP was the most successful large-cap cryptocurrency over the last 24 hours, outgaining Bitcoin BTC/USD, Ethereum ETH/USD, and Solana SOL/USD.
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The sentiment was bolstered by an intriguing video by Jack Dorsey, Twitter founder and a known Bitcoin BTC/USD advocate.
Dorsey posted a video on the decentralized social networking platform Primal, showing MicroStrategy co-founder Michael Saylor, a Bitcoin bull, transforming into the symbol for XRP.
Why It Matters: Several of XRP's technical indicators painted a bullish scenario.
The Momentum indicator, which compares the short-term price and long-term price, flashed a "buy" signal, according to TradingView.
Similarly, the Bull Bear Power indicator, which measures the strength of buyers and sellers, tilted in favor of the bulls.
More than 71% of XRP futures traders had long exposure to the cryptocurrency, according to Coinglass, indicating expectations of further upsides.
Meanwhile, Polymarket odds that an XRP exchange-traded fund would get greenlighted in 2025 were at 80% as of this writing, following filings by Grayscale, CoinShares, and Bitwise.
Price Action: At the time of writing, XRP was exchanging hands at $2.70, up 20.81% in the last 24 hours, according to data from Benzinga Pro.
Image via Shutterstock
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