XRP Surges on Fed Dovish Tone, Traders Eye $10 Price Target

XRP is back on track, having surged 6% in value following a dovish tone from the Federal Reserve. This rally has traders whispering about a potential $10 price target, a figure that felt like fantasy just weeks ago.

The move can be attributed to softening expectations around Federal Reserve policy, with risk assets broadly catching a bid as traders price in a friendlier rate path. XRP's 24-hour volume has remained elevated near $4 billion, with a market cap sitting around $90.9 billion, solidifying its position among large-cap majors.

Institutional demand has been quietly building under the surface, adding weight to the bull case beyond pure retail sentiment. The technical setup remains a descending triangle dating back to August's $1.70 peak, with price rebounding off triangle support but facing resistance from the 200-day EMA at $1.33-$1.35.