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As of May 16, the crypto market has taken a breather after last week’s price surge, with a healthy 0.47% increase to $3.45 trillion in total market cap.

Bitcoin is sitting around $103,696 but is facing stiff resistance at that $105,000 level—a psychologically important break. However, among altcoins, XRP has seen some losses. XRP has dropped more than 2.3% in the past 24 hours.

Currently trading at $2.43 , as per Kraken , it remains up 1.2% on the weekly chart.

XRP shows a bullish outlook

The slight shift in price has not affected the morale of the XRP community. The community, often known as XRPArmy on X, remains positive despite missing out on the hugely anticipated break above $2.50.

On May 12, a trader and Key Opinion Leader (KOL) named DustyBC Crypto on X decided to give away $250 if XRP closes above $2.50.

Interestingly, XRP did not reach but came close to it. Now, the KOL has postponed the giveaway to May 16, an attempt to keep the optimism up in the community.

XRP technical analysis

Coming to technical analysis, XRP’s chart looks optimistic. The MACD line (in blue) has crossed above the signal line (in orange), which is a bullish crossover. Moreover, the histogram has flipped to positive territory (green), indicating the momentum could be shifting towards the bulls.

If buying pressure continues and XRP breaks $2.50 decisively, one could see a rally toward $2.75–$2.80.

That said, there is still some cause for caution if XRP does not hold above $2.40, as this would warrant upside volatility toward $2.20 on a short-term basis.

But overall, momentum is only modestly bullish, as a combination of community hype and some technical indicators is driving momentum forward.

Disclaimer: This content is for informational purposes only and does not constitute financial advice. Always conduct your research and consult with a licensed financial advisor before making any investment decisions.