XRP News Today: XRP Hits $3.65 All-Time High Driven by 24-Hour Trading Surge

XRP, the digital asset associated with Ripple, has reached a new all-time high of $3.65, driven by a significant increase in trading activity, particularly in South Korea and the United States. This surge in trading volume has positioned XRP among the top five most traded digital assets over the past 24 hours, trailing only behind Bitcoin, Ethereum, and the stablecoins USDT and USDC. The total volume of XRP traded reached $22 billion, surpassing the combined volume of all other top-10 non-stablecoin digital assets outside of Bitcoin and Ethereum.

The trading activity was heavily concentrated in South Korea and the US. In South Korea, XRP accounted for over one-third of trades on Upbit, the region’s largest crypto exchange. In the US, notable buy pressure was observed on major platforms such as Coinbase and Kraken. Crypto analyst Dom highlighted the strong spot market activity, noting that the lower price of XRP makes it psychologically more attractive to retail investors, a phenomenon known as unit bias.

As XRP’s price action grabbed attention, scammers quickly moved to exploit the moment. On July 18, a deepfake video circulated on the social media platform X, showing what appeared to be Ripple CEO Brad Garlinghouse promoting a fake XRP giveaway. The video featured a convincing AI-generated impersonation of Garlinghouse, praising the community for its support in Ripple’s ongoing legal battle with the US SEC. The impersonator then promised a 100 million XRP airdrop and directed viewers to visit a fraudulent website.

Ripple’s Chief Technology Officer David Schwartz quickly debunked the video, labeling it a scam and warning users that the clip was AI-generated and unaffiliated with the firm or its leadership. He also urged the community to stay vigilant against phishing attacks, which often coincide with market upswings. These schemes typically lure users with fake rewards and prompt them to enter sensitive wallet details, leading to theft.

Garlinghouse has frequently spoken out against such tactics. Last year, Ripple released an official warning featuring the CEO to raise awareness about the growing use of deepfakes and impersonation scams in the crypto industry. The incident underscores the need for investors to remain cautious and verify information from official sources, especially during periods of high market activity and price volatility.