XRP News Today: XRP Surges 300% as Profit-Taking Hits $68.8 Million

XRP, the cryptocurrency associated with Ripple, has seen a significant rally, trading above $2. This marks a more than 300% gain for early investors, leading to increased profit-taking. On-chain data indicates that realized profits from XRP wallets reached $68.8 million, showing distribution pressure as the token tests key resistance levels just below its 2021 peak.

Despite positive regulatory developments and Ripple's infrastructure expansion, XRP faces a supply overhang from long-term holders. This overhang is affecting its ability to break above $2.20. The near-term price action reflects this supply overhang, even as the broader setup remains positive. Regulatory clarity in the U.S. and Ripple’s growing push into tokenized asset infrastructure support the positive outlook.

However, the broader altcoin ecosystem remains stuck in a bear market. A recent analysis showed that the 1-year cumulative buy/sell quote volume difference for altcoins, excluding Bitcoin and Ethereum, stands at negative $36 billion. This metric, a proxy for net investor flows, indicates a sharp reversal from December 2024, when it briefly flipped positive, marking a local top for altcoins. Since then, there has been a one-way bleed, with altcoin investors notably absent.

Despite pockets of strength in XRP, SOL, and a few narrative tokens tied to real-world assets, the broader altcoin ecosystem remains in a bear market. Unless risk appetite returns or capital flows back into Layer 1s, DeFi, and gaming, hopes of an “altseason” may continue to fade into the summer.