XRP News Today: XRP Surges 26% to $2.80 on Whale Activity and ETF Buzz

XRP, the cryptocurrency associated with Ripple, has seen a significant price surge, reaching $2.96 before retracing slightly to $2.78, marking an 8% increase. This rally was driven by aggressive whale activity, as indicated by a $14.03 million leveraged long position on Hyperliquid. The surge in XRP's price was also influenced by Bitcoin's new all-time high, which crossed above $18,000 for the first time. This development boosted investor confidence in the broader cryptocurrency market, leading to increased bullish bets on various digital assets, including XRP.

The upward momentum in XRP's price was further fueled by speculation surrounding the Securities and Exchange Commission (SEC) potentially dropping its appeal against Ripple. This speculation, coupled with the growing interest in cryptocurrency exchange-traded funds (ETFs), contributed to a bullish sentiment among investors. The surge in XRP's price also saw it flip USDT, targeting ETH and aiming for the second spot in the cryptocurrency rankings. This movement was supported by surging volume in Teucrium's 2x XRP ETF, which further boosted investor confidence in XRP's potential for growth.

Analysts have noted that the recent rally in XRP's price was driven by whale accumulation, a short squeeze, and ETF buzz. This combination of factors has led to a 26% increase in XRP's price, reaching $2.80. The momentum behind this rally has analysts eyeing a potential breakout above $3, as the cryptocurrency continues to gain traction in the market. The renewed strength in XRP's price was also evident in its 18% gain over the past 24 hours, reaching $2.91 at press time.

According to on-chain data, the number of wallets holding over 1 million XRP has reached a record 2,743. These whales now control a combined 47.3 billion XRP. This trend is seen as a very positive sign for the fourth-largest crypto asset, reflecting deeper conviction among top-tier holders. As XRP pushed higher, nearly $31.4 million in short positions were liquidated in the last 24 hours alone. With bears getting squeezed out, momentum accelerated. The coin’s open interest now stands at $7.2 billion, its highest in six months and inching closer to the January peak of $8.3 billion. That’s more than double the $3 billion low seen in April.

This XRP breakout mirrors broader market excitement. Bitcoin recently smashed records, topping $116,500, while Ethereum gained 17.5 percent on the week, trading near $2,960. This confirms the altcoin season is underway, with traders rotating profits from Bitcoin into major altcoins like XRP. XRP has gained nearly 7% over the past 30 days, steadily building strength since mid-June. It now ranks as the second-best performer this week after Ether. Recently, XRP surpassed a $170 billion market cap. Analysts believe that if XRP clears the $2.90 barrier, a move to $3 is likely. Despite its rally, XRP still trades 18% below its 2018 all-time high, which it nearly reclaimed in January.

In the near term, if momentum continues and XRP holds above $2.60–$2.65, analysts see $3 as an achievable target by August. Long term, a successful XRP ETF approval combined with sustained whale activity could push the token to $3.50–$4 by Q4 2025. With RSI near 66, technicals still leave room for upside. The SEC has fast-tracked ETF reviews, cutting wait times to just 75 days. Futures-based XRP ETFs are expected between July 14 and 25, but the real catalyst would be a spot ETF approval. If that happens, it could change everything for XRP’s future.

However, despite the recent surge, there are signs that the rally may be showing exhaustion. XRP has surged nearly 30% since June 22, driven by renewed market interest. The Dormancy Flow metric signals increased activity, but there are potential pullback risks as the market consolidates. The price surge also reflects a break from multi-year technical constraints experienced since early 2018, with trading volumes soaring. This breakout has led to a seven-week high for XRP, driven by ETF hopes and renewed investor interest.