XRP News Today: XRP Surges 10% in 24 Hours Reaching 2018 High of $3.40

XRP, the cryptocurrency associated with Ripple, has made a significant move, reaching $3.40, which matches its all-time high from 2018. This surge represents a 10% increase in just 24 hours and a 35% rally over the week, positioning XRP as one of the most dynamic tokens in a market filled with aggressive bets and growing institutional interest.

The market capitalization of XRP surged to $192,321,496,870, reflecting the substantial increase in its value. This surge is not just a result of retail speculation but also indicates a growing institutional interest. A whale opened a $15 million long position on Hyperliquid, demonstrating a strong belief in the potential for further upside. This is not an isolated bet; trading data shows that XRP now holds the highest long-short ratio among major cryptocurrencies, indicating that traders are heavily loading up on bullish positions compared to shorts.

While this imbalance shows widespread confidence, it also hints at excessive leverage that could trigger a sudden pullback if sentiment turns. According to an analyst, XRP tends to perform well when the broader crypto market rallies, and this trend has held up this week as XRP caught wind from broader market momentum. The demand for XRP is looking more structural this time, with companies and ETF managers showing significant interest.

VivoPower, a clean energy firm, and Webus, which runs a ride-hailing app, have adopted XRP as a treasury reserve asset, proving real corporate balance sheet use. On the investment side, Teucrium’s leveraged XRP ETF has pulled in more assets than all of its agricultural offerings combined. The ETF’s share price doubled in July, jumping from $24 to $48.20, which is a 50% gain within just a few weeks. This scale of inflow shows how deep institutional interest has become.

ProShares is launching three XRP funds this week, each focused on derivatives or futures. These vehicles will give investors tools to bet on XRP’s movement without directly holding the crypto. This includes traders who want more flexible exposure or simply want to take a position in ways that aren’t possible through direct buying. The wave of institutional interest in XRP is not slowing down, indicating a strong belief in its future potential.