XRP shot past $1.50 on May 10, 2024, hitting the mark for the first time in nearly two months as a broad crypto rally pushed Bitcoin above $82,000. The move came alongside a wave of ETF inflows and a spike in exchange withdrawals, both cited as key drivers behind the surge.
The broader market push
Bitcoin's climb past $82,000 provided the tailwind for altcoins, but XRP outperformed many peers on the day. The rally wasn't isolated — trading volumes across major exchanges picked up sharply. Still, XRP's gain stood out: the token hadn't traded above $1.50 since mid-March.
What moved the needle
ETF inflows were a direct factor. Institutional money flowing into spot crypto ETFs signaled fresh demand, and XRP benefited from that spillover. At the same time, exchange withdrawals accelerated — a pattern traders often read as holders moving coins off exchanges to long-term storage, reducing available supply and adding upward pressure.
The timing mattered. The withdrawal spike came just as Bitcoin was testing resistance levels near $80,000, and the combination of shrinking exchange supply and new institutional bids created a tight setup. XRP rode that wave.
Where XRP stands now
The $1.50 level had acted as resistance since March, and breaking through it gave bulls a foothold just above the mark. Whether the rally holds depends on sustained inflows and whether exchange withdrawals continue at the same pace. For now, the momentum is on XRP's side.
