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TL;DR
- XRP Targets $2: After a 70-day consolidation phase, the token broke above the median Bollinger Bands line ($1.43). The technical target is $2 for XRP, supported by de-escalation in the Middle East.
- Zcash (ZEC) Surges 40%: The asset entered the top 12 of the crypto market after surpassing $600. The rally is being driven by institutional capital inflows from Multicoin Capital amid discussions around taxes on unrealized gains in the United States. Arthur Hayes projects ZEC at 10% of Bitcoin's price ($8,000).
- Dogecoin ETFs Revive: Spot DOGE funds ended their streak of "zero days," recording the first capital inflow since April. The coin is trading at $0.1167 and aiming for a breakout above the 200-day moving average ($0.124).
- Crypto market outlook: BTC remains above $82,500 as the market awaits the Non-Farm Payrolls report on May 8, which could determine the path toward $91,000.
XRP targets $2 after breaking out of a 70-day consolidation
In the first week of May's midweek trading, XRP moved into active growth after a prolonged 70-day lull, gaining more than 3% in the middle of the week. The main trigger came from reports of possible de-escalation in the Middle East, which the market appeared to price in faster than other assets as XRP successfully broke above the median Bollinger Bands line at $1.43 as per TradingView.
The current breakout above the median line is being viewed as the first step toward range expansion, and the $2 mark has stopped being just a psychological level in this context. On the weekly chart, it represents the upper boundary of the channel, while on the monthly chart it aligns with a critically important median line.
Reaching this target would signal a full exit from the "lower range" in which the asset has traded over recent months.
The rally is unfolding against the backdrop of a breakthrough in diplomatic relations in the Middle East. According to sources, the parties are close to signing a memorandum that could fundamentally reshape the region's risk landscape.
At the moment, XRP is trading around $1.45. If the asset manages to hold above the $1.43 level by the end of the current trading week, the technical structure would confirm the "bullish expansion" scenario. In that case, the path toward $2 would become the primary direction, supported not only by chart signals but also by a real reduction in global tensions.
Plus 40% in 24 hours: Zcash is turning into the main vault for large capital
The cryptocurrency market recorded a sharp rotation of interest toward privacy-focused assets as Zcash (ZEC) surged 40% over the last 24 hours, breaking above $600 and securing the 12th position in the global cryptocurrency rankings. The main catalyst behind the move was one of the industry's most influential funds, Multicoin Capital, officially revealing its positioning, confirming that it had been aggressively accumulating ZEC since February 2026.
The logic behind the investment is pragmatic and stripped of ideological romanticism, as amid ongoing discussions in California around taxes on unrealized wealth, Zcash is being viewed not simply as a currency, but as a tool for protecting private capital from confiscation.
Arthur Hayes added fuel to the narrative by reiterating his projection that the fair value of ZEC should equal 10% of Bitcoin's price. At current BTC valuations, that formula places Zcash at a target of $8,000.
While the market remains far from that level, the current momentum reinforces confidence among large players that ZEC is "the purest way" to express the thesis of financial sovereignty.
With a market capitalization of $9.64 billion, Zcash is separated from the top 10 only by Cardano and Dogecoin. The market is witnessing a rare phenomenon where an asset that spent years overshadowed by regulatory risks has suddenly become attractive precisely because of its defensive properties.
Dogecoin ETFs break $0 streak during mini altcoin season of 2026
While the crypto market discusses Bitcoin's return above the $82,000 mark, an event in the institutional Dogecoin sector may signal a broader change in sentiment as spot DOGE ETFs ended their $0 streak with the first capital inflow since late April.
According to SoSoValue data, Dogecoin funds attracted $400,190. In the context of the broader crypto market, the amount appears modest, but the key factor is the timing. This was the first inflow since April 27.
At the moment, cumulative total net inflows into DOGE ETFs stand at $10.03 million, while total assets under management of $14.14 million account for just 0.08% of Dogecoin's market capitalization. Such a small ownership share suggests that the institutional rally for the meme coin has not even truly started yet, despite the asset's maturity.
The ETF revival coincided with strong price performance as since the beginning of the month, DOGE has gained 9.72%, while its total rise during the spring of 2026 reached 25%. The coin is trading at $0.1167 and targeting an important psychological barrier represented by the 200-day moving average at $0.124.
Altcoin season or a "test run"? The current dynamics are clear by renewed strength in the TOTAL2 index, which tracks the capitalization of all altcoins excluding Bitcoin. Over six days, the index climbed 6% and moved back above the $1 trillion mark. Alongside DOGE, assets such as ZEC and TON are also posting double-digit gains.
Crypto market outlook: Bitcoin, Morgan Stanley, and Friday's macro shock
While Bitcoin tests critical resistance amid de-escalation in the Middle East, the retail trading landscape is undergoing a fundamental transformation following Morgan Stanley's entry into the retail crypto race through E*Trade. Still, upcoming U.S. macroeconomic data on May 8 is creating conditions for heightened volatility toward the end of the week.
Key checkpoints:
- Bitcoin price outlook: At the moment, BTC is trading at $82,511 (+1.97% over the past 24 hours), moving directly toward the long-term dynamic resistance at $83,292. A successful breakout would open the path toward $91,000, while support remains intact near $77,300.
- Macro trigger on May 8: The U.S.-Iran agreement is primarily an anti-inflationary factor through lower energy prices. Therefore, the main focus of the week is the U.S. labor market data release (Non-Farm Payrolls), where cooling employment conditions would strengthen expectations of Federal Reserve easing and could push BTC toward $85,000.
- TradFi giants enter a pricing war: Morgan Stanley is opening access to crypto trading for 8.6 million E*Trade clients with a 0.5% commission fee. Morgan Stanley's aggressive pricing strategy is being viewed as a "shark move" that could ignite a commission war and drive a massive inflow of retail capital into BTC and ETH through familiar banking interfaces.
Dan Burgin
U.Today Editorial Team
