XRP News Today: XRP Surges 10% as Bitcoin Hits $118,250 All-Time High

Oscar Ramos, a prominent crypto analyst, has advised investors to prioritize a full stake in XRP, as the cryptocurrency market experiences a bullish trend. Bitcoin recently reached a new all-time high of $118,250, driving momentum across various altcoins, including XRP, which has surged above $2.65 and is currently trading around $2.69, marking a more than 10% increase in a single day.

The optimism surrounding XRP is not solely based on price movements. Ripple, the company closely associated with XRP, has been making significant developments that are attracting attention. These developments include the launch of Ripple’s stablecoin and a partnership with BNY Mellon, which has sparked renewed interest in the cryptocurrency.

Adding to the excitement, several futures-based XRP exchange-traded funds (ETFs) are set to launch this July. ProShares is preparing three futures ETFs with a planned rollout on July 14. Additionally, Turtle Capital will debut a 2X Long XRP ETF on July 21, while Volatility Shares has two more ETFs planned for the same date. Although the SEC has not yet approved a spot XRP ETF, more than 10 applications are still under review.

Another indicator of growing confidence in XRP is the increasing number of large holders. According to data from Santiment, there are currently 2,742 wallets holding at least 1 million XRP, just one below the record of 2,743. This suggests that whales are accumulating XRP, which could further drive its price upward.

XRP has been holding steady above $2.68 for the first time since May. Over the past 30 days, it has had 16 green days out of 30, with price volatility sitting at 3.85%. According to the current forecast, the price could see a minor dip of 0.60% to around $2.57 by August 10. However, the overall sentiment remains bullish, with many analysts predicting further gains for XRP in the coming months.