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XRP has been on a tear in recent trading sessions. The cryptocurrency has been rising since July 8 and has seen five consecutive days of gains, with today being the sixth if trading concludes in the green.
Following the breathtaking rally, XRP has surged to $3, marking the first time the coin has hit this level in months, specifically since February 2025. The price breakout comes amid a broader surge on the crypto market, with Bitcoin surpassing $123,000.
Analysts point to a strong technical structure, with veteran trader Peter Brandt spotting a compound fulcrum on the XRP chart following April's false breakout.
XRP's rally appears to be more than just technical; large whale transactions have been spotted on-chain. A recent transfer of 167 million XRP, about $497 million, between unknown wallets has stirred speculation, with many wondering if institutional players are reentering the market or repositioning ahead of further gains.
According to Whale Alert, "167,694,497 XRP worth $497,506,212 was transferred from unknown wallet to unknown wallet."
At press time, XRP was up 6.41% in the last 24 hours to $3.01, and up 30% weekly, making it the third-largest cryptocurrency with a market capitalization of $178.37 billion, surpassing Tether (USDT). So far in July, the cryptocurrency is up 33%.
XRP positive developments
In a recent tweet, XRP enthusiast Bill Morgan brought to the attention of the crypto community that Mercurity Fintech has filed Form K-6 with the SEC, announcing the launch of a $500 million DeFi basket treasury consisting of Solana, Ethereum, ADA, XRP and BNB.
In another milestone, 3iQ Digital Asset Management revealed that its XRP ETF, which now ranks as Canada’s largest XRP ETF, has accumulated over $50 million in client assets since its launch on June 18.
As tje XRP price trades higher, eyes are now on $3.40 ahead of $4, with recent predictions even targeting $4.40.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team