News/CryptoPotato/Ethereum’s (ETH) Phenomenal Price Surge, Ripple’s (XRP) Potential Breakout, and More: Crypto Highlights May 9
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Key takeaways:
The price of ETH has experienced a remarkable 23% surge in a single day, reaching over $2,400, stirring predictions of a potential rise to $4K or even $25K. XRP had a daily jump of 9% to $2.40, driven by positive sentiments following the settlement between Ripple and the SEC. Speculations are rife about a potential surge past $2.80 to new all-time highs. PEPE experienced a 50% weekly rise, its highest price since January, fuelled by whale accumulation and a revived crypto market.
ETH’s Stunning Recovery
ETH, the second-largest cryptocurrency, which had been underperforming this cycle, has successfully turned the tables. In recent days, Ethereum’s price has skyrocketed, and it is currently valued at over $2,400, according to CoinGecko’s data. This translates to an astounding 23% increase within 24 hours, marking the asset’s best daily performance since 2021.
As anticipated, the rally has sparked excitement across the crypto community. Many analysts believe that the current price levels could signal the start of a significant bull run.
Popular analyst, Lucky, recently predicted a jump towards $4,000 in the coming months. Another analyst with over two million followers suggested that “the sleeping giant is finally waking up” and is set for “greater moves.”
Furthermore, analysts like Merlijn The Trader and KALEO have made their predictions. The former drew a parallel between Ethereum’s price chart over the past three years and that of bitcoin between 2019 and 2021, forecasting a price explosion to $12,000 by the start of 2026. KALEO on the other hand, painted an even more optimistic picture: “In a world where Bitcoin is heading to $500K+, $25K+ ETH almost sounds too bearish.”
XRP’s Future Outlook
Ripple’s native token, XRP, is also in the green, though its gains are less substantial than ETH’s. Currently, it is trading at approximately $2.40, a 9% increase within the same timeframe.
Its resurgence can be credited to the flourishing crypto market and the recent developments in the Ripple v. SEC lawsuit. The two parties have agreed to a $50 million settlement, potentially putting an end to the legal battle that started in 2020 over alleged unregistered XRP sales.
A number of analysts believe that Ripple’s cross-border token is poised for a further increase in the short term. Analyst CRYPTOWZRD believes a potential breakout past the $2.80 resistance could propel XRP towards a new all-time high.
Analyst Ali Martinez also suggested that a rise above the $2.26 mark could trigger a jump to $2.60. The price has, indeed, managed to surpass that zone.
PEPE’s Performance
Lastly, the frog-themed meme coin PEPE, one of the top performers this week, has seen a 52% increase over that period and over 42% for the day, trading at its highest since January this year.
Factors contributing to its impressive surge include the revitalization of the digital asset market and increased whale activity. As CryptoPotato reported, a certain large investor recently bought 500B PEPE, increasing their total holdings to 2 trillion tokens.
