XRP News Today: XRP Surges 5.5% as Crypto Market Booms

XRP, the cryptocurrency associated with Ripple, has seen a significant surge in its price, rising by 5.5% in the past 24 hours to reach $2.58. This increase comes as the broader crypto market experiences a boost, driven by Bitcoin's new record highs. Over the past week, XRP has increased by 16%, and over the past fortnight, it has surged by 23%. Its return over the last 12 months has now risen to 480%.

This bullish trend is accompanied by a surge in demand and adoption, with the number of XRP wallets topping 7 million. The XRP Ledger has added 840,000 new addresses in the past six months alone, with approximately 7,000 new wallets being added daily. This rapid adoption suggests a promising medium- and long-term outlook for XRP's price.

Several large XRP transfers have occurred this week, including one worth over $100 million. This indicates that larger traders and institutions are increasingly investing in XRP. The recent CoinShares Digital Asset Fund Flows reports also support this trend. Additionally, XRP's chart shows a decisive breakout, with its indicators flashing 'buy.' The Relative Strength Index (RSI) has risen above 70, and the Moving Average Convergence Divergence (MACD) has turned positive, suggesting that the current rally has room to grow before reaching overbought levels.

Looking ahead, the approval of numerous XRP ETFs could further boost the altcoin's price. Based on current trends, the XRP price could hit $3 by the end of July and potentially end the year at $10 or higher. This optimistic outlook is supported by the growing adoption and the positive sentiment in the crypto market.