XRP News Today: XRP Surges 7.27% as Capital Inflows Reach $12.19 Billion

On June 23, the cryptocurrency XRP experienced a significant price recovery, rising from an intraday low of $1.96 to a session high of $2.24, and settling around $2.17 by June 24. This surge translated to a 7.27% daily gain and a 10.5% increase in market capitalization, jumping from $115.99 billion to $128.18 billion, with peaks reaching $129.80 billion. The inflow of capital amounted to approximately $12.19 billion, despite a modest 2.64% decrease in 24-hour spot volume to $4.98 billion. This indicates that the rally was likely driven by aggressive bidding in thin liquidity rather than broad-based accumulation.

The volume-to-market cap ratio now stands at 3.87%, which is relatively low given the magnitude of the price movement. This suggests the presence of large order book imbalances or algorithmic flows exploiting volatility. From a technical standpoint, XRP decisively reclaimed the $2 psychological and technical threshold, which had been a key resistance zone. The token also broke above its 20-period Exponential Moving Average (EMA) on the 4-hour chart, with the Relative Strength Index (RSI) pushing beyond 60 but not yet entering overbought territory. This provides technical validation for further upside without immediate exhaustion risk.

On the daily chart, the price is attempting to reclaim the upper bound of the rising channel formed since mid-May. The Fibonacci retracement drawn from the May high to the June low places the 61.8% level near $2.20, which was tested and briefly exceeded during the session. A sustained break and close above this level would open up upside toward the next confluence zone at $2.42, which corresponds to both horizontal resistance and the upper Bollinger Band on the daily timeframe.

The substantial inflow of capital into XRP can be attributed to several factors. One key driver is the increasing adoption and usage of XRP within the cryptocurrency ecosystem. The number of active crypto wallets on XRP's chain has been growing rapidly, indicating a rise in users leveraging the token for its intended purposes. This growth in wallet activity suggests that more individuals and institutions are recognizing the utility and potential of XRP, contributing to its market capitalization surge.

Additionally, institutional investment has played a crucial role in the recent surge of XRP. Ripple's latest markets report indicated significant net inflows to XRP, with $37.7 million of institutional money following the upgrades to the chain's infrastructure. This institutional backing provides a layer of credibility and stability to XRP, attracting more investors and further boosting its market value.

The rapid increase in XRP's market capitalization also reflects the broader trends in the cryptocurrency market, where tokens with strong fundamentals and real-world applications are gaining traction. As the market matures, investors are increasingly looking for tokens that offer more than just speculative value, focusing on those with practical use cases and robust ecosystems. XRP's recent performance aligns with this trend, as its utility in cross-border payments and remittances continues to drive its adoption and value.

The $12 billion inflow into XRP in less than a day is a testament to the token's resilience and potential. As the cryptocurrency market continues to evolve, XRP's ability to attract significant capital and maintain its market position underscores its importance in the digital asset landscape. Investors and analysts will be closely monitoring XRP's performance in the coming days and weeks, as the token's trajectory could provide valuable insights into the broader trends and dynamics of the cryptocurrency market.