XRP News Today: XRP Market Cap Nears $200 Billion Amid Altcoin Surge

XRP is on the brink of achieving a significant milestone, poised to surpass $200 billion in market capitalization for the first time. This surge comes as Bitcoin shows signs of consolidation following its recent record highs. The market capitalization of XRP has seen a substantial increase of 71.75% over the past 30 days, reaching $193.10 billion, which is just $2.18 billion shy of its all-time high from six months ago.

The price of XRP has also shown impressive gains against Bitcoin, rising by over 35% in July. This performance is notable as it outpaces Ether, the second-largest cryptocurrency by market capitalization, which has increased by over 25% against Bitcoin during the same period. Together, XRP and Ether make up around 16% of the total crypto market, contributing to the ongoing "altseason" narrative where traders shift capital from Bitcoin to altcoins in search of higher returns.

Recent market movements indicate a shift towards top-cap altcoins, with both Ether and XRP rising by over 8% in the past 24 hours, while Bitcoin has fluctuated between intraday profits and losses. This trend suggests that traders are increasingly favoring altcoins over Bitcoin, which could further boost XRP's market capitalization.

Analysts are optimistic about XRP's continued rally, predicting that it could reach $4 in the coming weeks. This bullish outlook is supported by rising whale volumes and other technical indicators. The recent breakout of XRP bears a striking resemblance to its late-2024 setup, when it entered overbought territory on the relative strength index (RSI) and remained elevated for several weeks. During that period, XRP's market capitalization soared over 200%, peaking at around $195 billion by early 2025.

The current price action of XRP mirrors this structure, with the cryptocurrency breaking out of a multimonth descending triangle supported by rising volume and momentum indicators. If this pattern continues, XRP's market capitalization could extend toward the triangle’s upside target at around $212 billion for August. A successful push beyond this level would open the door to the 1.618 Fibonacci extension level, aligning approximately $258 billion, up 33% from current levels, by the year’s end.