Will XRP rise again to 2.22 dollars? New developments indicate a major bullish trend is about to occur.

XRP has rebounded to $2.22 after a gentle recovery shook Bitcoin and the crypto market. This was driven by comments from U.S. President Donald Trump that tariffs on China are expected to decrease significantly, although they will not be at zero. However, after this recovery, the price of XRP has started to revert, indicating that a local peak may have been reached. Nevertheless, some developments for XRP could witness the beginning of a bullish trend. CME Group announces the launch of XRP futures contracts. The XRP community is once again shaken by positive news after CME Group announced that they will launch a futures investment vehicle for XRP. This derivatives exchange seems to be capitalizing on the hype surrounding the XRP price in recent months, especially as the Ripple vs. SEC lawsuit is nearing its conclusion. CME Group revealed that futures contracts will be cash-settled, allowing investors to bet on whether XRP prices will rise or fall. This provides exposure to XRP without the need to actually buy and hold the digital asset. This is similar to the Bitcoin futures contracts launched in October 2021, paving the way for the approval of spot Bitcoin ETFs by the end of January 2024. The exchange disclosed that it plans to launch the first XRP futures contracts on May 19 if the Securities and Exchange Commission (SEC) approves. This news has been positively received by the XRP community, with Ripple's CEO Brad Garlinghouse calling it "a very important and exciting step in the continuous growth of the XRP market." Additionally, the price of XRP has surged above $2.20 following this news. The recovery sentiment surrounding XRP price Although the price of XRP fell after the crypto market slowed down on Thursday, the sentiment around this altcoin remains very positive. Data from CoinMarketCap shows that the positive sentiment around the price of XRP has recovered after a slight dip when this altcoin dropped below $2.22. Currently, 88% of the votes are bullish, with only 12% predicting that the price will fall further from this level.

Crypto analyst Armando Pantoja has also pointed out a potential bullish action for the price of XRP. According to the analysis, momentum is building after the price bounced off the key support level just above $2, with no major resistance levels in sight. He is targeting a price of $2.50, which means an increase of 20% from this level.