XRP News Today: XRP Surges 24.65% as Market Cap Jumps $40.54 Billion

XRP, the cryptocurrency associated with Ripple, has seen a significant surge in its market capitalization, rising by $40.54 billion over the past week. This substantial inflow has driven the token's price to $3.49, marking a 24.65% increase on a weekly basis. The market capitalization has grown from $165.82 billion to $206.36 billion, indicating a strong buying pressure and investor interest in the token.

According to insights from OpenAI’s ChatGPT, if the current buying momentum continues, XRP could potentially trade between $5 and $7 by the end of the year. The model suggests that this surge will be fueled by sustained investor demand, which is reinforcing market momentum. Additionally, the anticipated decline in Bitcoin's dominance is expected to redirect capital into altcoins, signaling the start of an altseason. During this period, XRP, as a top-tier token, is poised to gain significantly.

Adding to the market optimism is the growing regulatory clarity, especially in the U.S. After years of legal uncertainty, more explicit rules are helping to reduce risk for both institutional and retail investors. This regulatory environment is particularly favorable for XRP, as it comes amid the final push towards ending the legal battle between Ripple and the Securities and Exchange Commission (SEC). The enactment of the Genesis Act, which provides a legal framework for stablecoin, further supports this positive outlook.

Beyond the broader crypto market trends, XRP’s rally is being driven by several key developments. Notably, momentum picked up following the approval of the ProShares XRP Futures ETF on July 19, sparking renewed interest from institutions. This move mirrors Bitcoin’s ETF-fueled surge earlier this year. Additionally, 11 spot XRP ETF applications are awaiting review, with traders estimating an 88% chance of approval by year-end. On-chain activity also spiked, with 1.7 billion XRP moved on July 18, marking the highest daily volume in a year and indicating potential whale accumulation, a traditionally bullish signal.