TL;DR
- ETH surged by 23% in 24 hours to over $2,400, sparking bullish predictions of $4K to even $25K.
- XRP jumped 9% daily to $2.40 amid optimism from the settlement between Ripple and the SEC, with analysts eyeing a potential breakout past $2.80 toward new all-time highs.
- PEPE skyrocketed by more than 50% weekly, hitting its highest price since January, boosted by whale accumulation and a revitalized crypto market.
ETH’s Impressive Comeback
The second-largest cryptocurrency, Ethereum, which has been among the biggest disappointments this cycle, finally managed to reverse the negative trend. In the past several days, Ethereum’s price has soared, currently trading at over $2,400 (per CoinGecko’s data). This represents a remarkable 23% increase in just 24 hours—marking the asset’s best daily performance since 2021.
The recent rally has infused enthusiasm across the crypto community. Many analysts believe these current levels could be indicative of the beginning of a major bull run. A user on X, named Lucky, recently predicted a surge towards $4,000 in the coming months, while another analyst claimed that “the sleeping monster is finally waking up and is aiming for greater moves.” Other prominent industry figures have drawn parallels between Ethereum’s price chart and Bitcoin’s trajectory in 2019-2021, predicting a potential price explosion to $12,000 by early 2026. Some, like KALEO, are even more optimistic, suggesting that if Bitcoin approaches $500K, then $25K+ for Ethereum might be too conservative.
What’s Next for XRP?
Ripple’s native token, XRP, is also experiencing significant gains, currently trading at approximately $2.40—a 9% increase in the same daily timeframe. This resurgence may be attributed to overall bullish sentiment in the crypto market, as well as recent developments in the Ripple v. SEC lawsuit. Recently, Ripple and the SEC agreed to a $50 million settlement, potentially ending a long-standing legal battle over alleged unregistered sales of XRP.
Analysts suggest that XRP is positioned for further growth in the short term. A user on X, known as CRYPTOWZRD, believes a breakout past the $2.80 resistance could lead XRP to achieve new all-time highs. Ali Martinez added that surpassing the $2.26 mark might trigger a rally toward $2.60, a threshold that has already been crossed.
How’s PEPE Doing?
Last but not least, let’s highlight the meme coin PEPE, which has emerged as one of the top performers in recent weeks. The token is up 52% over the last week and more than 42% for the day, at its highest level since January. Factors fueling this remarkable increase include the revival of the broader digital asset market and a rise in whale activity. Notably, a large investor recently acquired 500 billion PEPE tokens, increasing their total holdings to 2 trillion.
The post Ethereum’s (ETH) Price Explosion, Ripple’s (XRP) Next Targets, and More: Bits Recap May 9 appeared first on CryptoPotato.
