XRP News Today: XRP Surges 71.75% in July Driven by Whale Activity and ETF Launch

Ripple's XRP has been making significant strides, capturing the attention of traders and analysts alike. The cryptocurrency recently reached a new all-time high of $3.65, surpassing its previous record set in 2017. This surge has been driven by a combination of factors, including substantial whale activity and the anticipation of an upcoming ETF launch.

Whale activity has been particularly noteworthy. In the past two weeks, whales have accumulated 2.2 billion XRP, valued at over $6.6 billion at current prices. This massive buying spree has contributed to XRP's price movement, pushing it past the $3 mark and fueling investor excitement. Several large transactions have been tracked, including a transfer of 25.5 million XRP to Coinbase and movements of 33 million and 40 million XRP between various wallets. These transactions indicate a strong conviction among large holders, further boosting market sentiment.

On July 17, Ripple co-founder Chris Larsen transferred 7.6 million XRP worth $30 million to the exchange Coinbase, just one day before XRP hit a new all-time high (ATH) of $3.65. This transfer sparked intense speculation across the crypto community. A transfer of this magnitude from one of XRP's biggest holders invariably creates market ripples. As XRP approached its ATH, such a move naturally triggered speculations, for instance, is Larsen selling, reallocating, or simply managing liquidity? Nevertheless, Larsen’s precise motivations remain undisclosed, but whether it’s a strategic repositioning, partial cash-out, or confidence signal, the transfer exemplifies how XRP’s biggest stakeholders steer both price momentum and market psychology. Paired with regulatory clarity and institutional adoption, this episode signals XRP’s evolution from speculative play to a legitimized fintech asset.

The potential launch of an XRP ETF has also been a significant catalyst for the price surge. The ProShares Ultra XRP ETF under the ticker UXRP has gone live, offering 2× daily leveraged exposure to the XRP futures index, marking a watershed moment for XRP-centered investing. Within days of launch, UXRP saw a surge in trading volume, reflecting its immediate resonance with both institutional and retail investors. The SEC and NYSE Arca's approval of UXRP, a leveraged XRP futures exchange-traded fund (ETF), is a major regulatory milestone. Coming on the heels of XRP's legal stabilization following Ripple’s favorable 2024 court ruling, this ETF signals that XRP has transitioned from fringe asset to mainstream financial instrument. UXRP brings futures-based XRP exposure into traditional brokerage accounts, bypassing the complexities of wallets, custody, and crypto exchanges. Institutional players, such as hedge funds, asset managers, and proprietary desks, can now tactically leverage XRP positions without grappling with on-chain custody.

In the days leading up to the launch, XRP broke above the $3 psychological ceiling for the first time in months, surging past $3.20 on massive volume of more than 170 million XRP, indicating structured flows. The fear of missing out (FOMO) was further stoked by breakout patterns and tight Bollinger Bands. UXRP delivers amplified daily returns, whether calls or puts through futures derivatives and daily rebalancing. For traders and tactical investors, this doubles the reward lever compared to spot XRP, while offering a regulated alternative to risky exchange-held leverage. Market analysts are eyeing initial flows of more than $500 million with early estimates suggesting that inflows on this scale could push XRP prices toward the psychological price of $4. Meanwhile, XRP recently eclipsed Tether to sit among the top three cryptos by market cap, fueled by ETF momentum.

Technical analysis suggests that XRP is approaching a key price level, with the cryptocurrency close to entering "price discovery." This term refers to a period when an asset trades above all past price levels. If XRP closes above the $3.30 to $3.35 range on a monthly timeframe, analysts believe further gains could follow. According to renowned analyst Ali Martinez, a weekly close above $3 could push XRP toward $4.80, indicating a bullish outlook for the cryptocurrency.

With the ETF launch on the horizon and continued whale activity, all eyes are on Ripple's next chapter, as the cryptocurrency continues to make waves in the market. The market cap of XRP is close to hitting $200 billion, driven by strong performance against Bitcoin and increasing whale activity. The cryptocurrency has surged 71.75% in July, reflecting the growing adoption and investor confidence in XRP. ProShares XRP Futures ETF represents a highly anticipated convergence of regulatory recognition, institutional ease-of-access, technical momentum, and leverage-based strategy. Therefore, UXRP isn’t just another ETF, it marks XRP’s official entry into mainstream finance, offering both leverage and legitimacy. Additionally, Whether Ripple co-founder Chris Larsen was cashing in, hedging exposure, or signaling confidence, his $30 million XRP move and the $3.65 ATH that followed represents a flashpoint in XRP’s evolution.