XRP Price Today Jumps to a Monthly High After Trump's Endorsement

Ripple (XRP) price jumped to a monthly high shortly after President Donald Trump announced that the altcoin would be added to the country's crypto strategic reserve.

Ripple (XRP) price surged to a monthly high shortly after President Donald Trump announced that the altcoin would be added to the country’s crypto strategic reserve. The bullish news has led to positive market sentiment, with traders now speculating about whether Ripple price can sustain the momentum or a bearish reversal will happen. As Trump’s endorsement fuels the rally, are the odds of an XRP national reserve increasing by more than 20% on Polymarket? And will the upcoming crypto summit at the White House have a role to play in the case of Ripple price prediction for March 3?

The bullish narrative is unfolding as XRP price trades at $2.58 after a staggering 15% gain in 24 hours. In doing so, Ripple has once again flipped Tether (USDT) by market cap to become the third-largest crypto.

XRP Price Prediction for March 3 – Reversal or More Upside?

XRP price is likely poised for more upside today as traders continue to react to the bullish news of Ripple being included in the US crypto strategic reserve. The development saw the odds of an XRP national reserve increase by more than 20% on Polymarket.

Moreover, Ripple CEO Brad Garlinghouse has confirmed his attendance at the White House Crypto Summit later this week. Due to this upcoming summit, XRP price will likely sustain its gains today, March 3, and possibly rally past $3 as traders frontrun the impact that it will have on the altcoin’s performance.

The derivatives market also supports this bullish hypothesis. Data from Coinglass shows that in the last 24 hours, XRP had the third-highest amount of short liquidations after Bitcoin and Ethereum. These short liquidations reached $45M, which was the highest in six months.

If these short liquidations continue throughout the day, the likelihood of XRP price gaining today and possibly reaching $3 remains high.

Can Ripple Price Reach an ATH Today?

XRP price is on a bullish trajectory according to analyst Carl Moon. In his analysis, he noted that Ripple had broken the upper resistance line of the descending triangle pattern. This breakout indicates that bears are no longer in control.

If the XRP price sustains this trajectory, it could register an over 47% rise to the target price of $3.80. If buyers chasing profits from the recent rally continue adding to the buying pressure, XRP could hit this price today. At its current price, Ripple is only 30% shy of its record highs.

Key Levels to Watch

XRP, like many US altcoins, has staged a strong comeback, surging from the $2.15 support level to flip the crucial $2.58 resistance, aligning with the 50% Fibonacci level. The rally has since cooled after potential profit-taking by traders, but the RSI above 50 suggests that buyers still have the upper hand.

One of the key levels to watch will be the 50-day SMA of $2.72. XRP price needs to regain above this level for further upside. Another decisive close above the 50-day SMA could strengthen the bullish momentum, with $3.40 and $4.40 being the next major targets.

As the first crypto summit draws near, traders should expect more upside from XRP price today and throughout the week. However, Bitcoin’s price action will be crucial to sustaining a rally. If BTC price shows weakness, it may derail Ripple’s price recovery.

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