XRP News Today: XRP's $90 Spike: Retail Frenzy or Institutional Adoption Dawn?

XRP's price surged to $90 on Kraken amid a wave of institutional interest and strategic developments at the cryptocurrency exchange, sparking renewed speculation about Ripple's broader market trajectory. The rally coincided with Kraken's recent $800 million fundraising round, backed by a $200 million investment from Citadel Securities, which values the exchange at $15 billion and positions it for an anticipated initial public offering in 2026. The capital infusion, coupled with Kraken's expansion into Latin America, Asia Pacific, and EMEA, underscores its ambition to dominate the regulated digital asset space.

The XRP price spike followed the launch of the U.S. spot XRP ETF (XRPC), which generated $58.6 million in first-day trading volume-far exceeding analyst expectations of $17 million. However, the ETF's debut failed to stabilize XRP, as the token fell 4.3% to $2.22 within 24 hours amid $28 million in liquidations, according to derivatives data. Analysts attributed the volatility to conflicting institutional flows: while ETF inflows signaled demand, broader macroeconomic pressures and risk-off sentiment continued to suppress crypto liquidity.

Kraken's strategic moves have amplified optimism around XRP's utility. The exchange's partnership with Citadel Securities-a key player in traditional markets-highlights its push to integrate digital assets into mainstream finance, with plans to expand tokenized equities, staking solutions, and global payment services. Meanwhile, Ripple's XRP remains in a medium-term downtrend, with market participants debating whether its price action reflects speculative fervor or genuine adoption as a cross-border payment solution.

A critical question looms: Can XRP's narrative evolve beyond retail speculation? Experts caution that while the ETF's launch and Kraken's funding are positive catalysts, real utility-such as increased adoption by financial institutions or regulatory clarity-will determine long-term price stability. One analyst noted: "ETF buying doesn't immediately move spot prices due to T+1 settlement rules," emphasizing that sustained demand, not short-term inflows, will drive XRP's trajectory.

Kraken's valuation surge and XRP's price volatility reflect broader shifts in the crypto market. As the exchange prepares for an IPO and expands its product suite, institutional investors are closely watching whether Ripple can replicate the success of Bitcoin and Ethereum in building a durable infrastructure for digital payments. For now, XRP's $90 peak on Kraken remains a flash in the pan-unless real-world adoption follows.