XRP News Today: XRP Surges 13.09% in 24 Hours, Approaching All-Time High

XRP’s price has surged recently, approaching its all-time high of $3.84. This upward trend is supported by increased buyer demand, as indicated by Santiment data showing XRP reaching its highest value since May. The digital asset’s price has moved upward at a faster rate than many others, trading near a price level previously seen and now closer to its highest recorded price.

XRP’s market value has hit a 7-week high, crossing above $2.39 for the first time since May 23rd. This increase is accompanied by a rising number of large holders, or "whales," possessing at least 1 million XRP. Currently, there are 2,742 wallets holding at least 1 million XRP, with their collective balances exceeding 47 billion XRP. The total value of these holdings is more than $155 billion at current market prices.

The accumulation by these large holders coincides with the price increase, suggesting a long-term view on XRP’s value. Market observers often view the growing number and holdings of such large participants as a sign of underlying asset strength. The recent price action reflects this increased market attention.

XRP is trading at $2.82 USD, marking an impressive 13.09% increase in the last 24 hours. This sharp rise comes amid one of XRP’s most significant bullish streaks in recent years, fueled by favorable legal outcomes, new institutional adoption, and expanding use cases for Ripple’s On-Demand Liquidity (ODL) platform.

XRP’s market capitalization now stands at $166.66 billion, reflecting strong demand from both retail and institutional investors. Technically, XRP has decisively broken out of the consolidation range it had maintained between $2.20 and $2.50 throughout late Q2. The breakout above $2.70 has triggered a fresh wave of momentum buying, likely targeting psychological resistance at $3.00 and then $3.30. Momentum indicators like RSI are elevated but not yet signaling overextension, indicating room for further upside.

Moving averages on all key timeframes are sloping upward, with the 50-day MA recently crossing above the 200-day MA—classic confirmation of a bull market structure. XRP is currently one of the top-performing large-cap altcoins in the market.

On the fundamental side, XRP is benefiting from a surge in institutional partnerships. Ripple Labs has recently announced new ODL corridors in South America and the Middle East, expanding real-time cross-border settlement services to previously untapped regions. This expansion is likely to further drive demand for XRP, as more institutions adopt Ripple’s technology for cross-border payments.