In the first week of May, several developments brought renewed energy to the cryptocurrency markets, pushing many investors to turn their attention back to digital assets. XRP led the pack with a notable rise after a lengthy period of stagnation, while Zcash (ZEC) soared by 40 percent within a single 24-hour window. Meanwhile, Dogecoin (DOGE) exchange-traded funds saw their first new inflows in weeks, underscoring fresh activity across multiple segments of the market. Major coins like Bitcoin (BTC) and leading altcoins are also testing new levels amid shifting macroeconomic dynamics and decisive moves by large financial institutions.
XRP eyes the crucial $2 level
After nearly 70 days of sideways trading, XRP jumped more than 3 percent in the middle of the week. Breaking above the $1.43 Bollinger middle band, XRP signaled the potential for a new rally. With easing tensions in the Middle East reducing overall market risk, this has been a key factor supporting XRP’s upward move.
Technically, the $2 mark is no longer seen as merely a psychological barrier. On weekly price charts, it now stands as the upper edge of the current trading range, while for monthly charts, it represents a decisive inflection point. If XRP reaches $2, it would break out from the narrow trading band that has constrained it in recent times.
According to market sources, further diplomatic progress in the Middle East could shift the region’s risk dynamics. At the moment, XRP is trading around $1.45. If it holds above this level through the weekend, the chart pattern suggests an extended bullish scenario could be confirmed.
Analysts expect that as geopolitical risks ease alongside strong technical signals, XRP is likely to begin moving toward the $2 milestone.
Zcash posts 40 percent surge in a day
Amid debates in the United States around taxing “unrealized gains,” Zcash has caught the eye of institutional investors and soared by 40 percent within the past day. Backed by investments from major players including San Francisco-based Multicoin Capital, Zcash’s market capitalization climbed to $9.64 billion, making it the twelfth-largest cryptocurrency by value.
Market chatter is growing around the possibility that Zcash could eventually reach 10 percent of Bitcoin’s price. Arthur Hayes has notably projected that, by this metric, ZEC’s fair value could be as high as $8,000. While Zcash has long focused on financial privacy, regulatory challenges have kept it on the sidelines. Its sudden institutional appeal signals a noteworthy shift in sentiment.
Dogecoin ETFs see return of new inflows
Bitcoin’s rally above $82,000 has sparked renewed activity in the altcoin sector. After a prolonged stretch of zero inflows, Dogecoin ETFs have finally recorded new capital entering since late April. According to SoSoValue, Dogecoin ETFs took in $400,190 during this period.
Although modest in amount, the timing of the Dogecoin ETF inflows is considered significant. Occurring for the first time since April 27, the total ETF net inflow now stands at $10.03 million. Dogecoin ETF total holdings have grown to $14.14 million, just 0.08 percent of the token’s overall market cap.
Dogecoin has climbed 9.72 percent since the start of May, and is up 25 percent for the spring overall. Currently trading at $0.1167, DOGE is now eyeing its 200-day moving average at $0.124.
Driven by these movements, the TOTAL2 index — which tracks all altcoins excluding Bitcoin — crossed back above the $1 trillion mark with a six percent gain over the past six days. Assets like ZEC and TON have posted double-digit returns, reflecting extensive gains across the sector.
Bitcoin and the broader market outlook
With geopolitical tensions in the Middle East easing, Bitcoin is entering a new phase of resistance testing. Meanwhile, Morgan Stanley is deepening integration between conventional finance and digital assets by enabling the 8.6 million U.S. users of E*Trade to trade crypto at a 0.5 percent commission.
CryptoAppsy data shows Bitcoin currently trading at $82,511, with immediate resistance at $83,292. A clear break above this level could shift the target up to $91,000, while $77,300 serves as the main support zone.
All eyes are now on the U.S. Non-Farm Payroll report set for release on May 8. The recent U.S.-Iran agreement, which is expected to ease energy costs and curb inflation, coincides with possible signals of labor market weakness — potentially strengthening the case for a U.S. Federal Reserve rate cut and opening the door for Bitcoin to target $85,000.
Morgan Stanley’s aggressive pricing, which enhances competition in U.S. trading commissions, could accelerate mainstream access to BTC and ETH for traditional banking customers. This move is being hailed as the start of a new era for retail crypto investors.
