XRP Price Outlook for May 9: Will the Crypto Maverick Defy Gravity Again?

XRP bulls eye another rally as the token flirts with key resistance levels—while Wall Street analysts still can’t decide if it’s an asset or a lawsuit magnet.

Technical indicators hint at a potential breakout, but regulatory overhang keeps traders on edge. Can Ripple’s favorite token shake off the SEC drama and post gains?

One thing’s certain: XRP moves to its own beat—whether the suits like it or not.

The cryptocurrency market is surging and Bitcoin is inching closer to $103,000 level at the time of writing. Ethereum has gained more than 19% and altcoins have followed suit. XRP price is trading above the $2.30 level and adding to the bullish sentiment, the SEC has filed the settlement agreement letter. 

According to analyst Josh of crypto World, on the larger 3-day chart, XRP is still technically showing signs of a bearish trend. This has been the case for months, and it is still seeing lower highs and lower lows — which is typical of a downtrend. While there have been small short-term price increases along the way, the bigger trend hasn’t flipped bullish yet.

However, that could soon change. XRP is closely linked to the overall crypto market, especially top coins like Bitcoin, Ethereum, and Solana. If those continue to rise, XRP might finally break out of this downtrend as well.

To confirm a real trend reversal, XRP WOULD need to break above a key resistance level around $2.45. If we see a strong daily candle close above that level, followed by a higher low on the chart, it could signal the start of a new uptrend.

If XRP confirms this bullish breakout, there’s a good chance it could start heading back toward its all-time highs. But until that happens, it’s important to expect resistance around $2.33 to $2.45.

Like most altcoins, XRP tends to move in the same direction as Bitcoin. So if Bitcoin continues to pump, we can expect XRP to follow with short-term gains too — just like it’s doing now.