Usman Salis
XRP has shot up over 7% in the last 24 hours, hitting an eight-week high of $2.60 and pushing its market cap above $150 billion. The rally comes as institutional interest picks up and Ripple's RLUSD stablecoin gains momentum.
XRP (Ripple) Price Breaks Out After Weeks of Consolidation
XRP kicked off Friday's session with a bang, climbing to $2.60 - a level we haven't seen since May 14, 2025. This surge happened alongside Bitcoin's run to new all-time highs, as investors jumped into risk assets and squeezed out short sellers.
The rally pushed XRP's market cap to $153.89 billion, according to CoinMarketCap. That's a big deal because XRP last hit a $152 billion valuation back in May when it briefly became the third-largest crypto.
XRP has now gained for four straight days since July 7, posting a solid 6.98% daily gain and an impressive 17% weekly jump. The move finally broke through key resistance levels that had been holding the price down since May.
XRP (Ripple) Bulls Eye $3 Target After Technical Breakout
Technical analysts are getting excited about XRP's breakout from a multi-week descending wedge - a pattern that often leads to big price moves. The crypto has punched through both its 50-day moving average at $2.227 and 200-day average at $2.365, which had been acting as roadblocks.
Fresh support showed up at $2.53, while holding above $2.54 confirmed the uptrend is still alive. Traders are now watching the $3 level as the next big target, with some thinking XRP could even reach $4 if this rally really takes off.
XRP (Ripple) Market Cap Boosted by Whale Accumulation
What's really driving XRP higher is growing institutional confidence and some solid developments around Ripple's ecosystem. The mood shifted after Ripple announced BNY Mellon as the primary custodian for its RLUSD stablecoin - a move that brought serious institutional credibility.
RLUSD itself crossed $500 million in market cap earlier this week, which is more than just a number - it shows the XRP Ledger ecosystem is actually being used.
The most interesting part? On-chain data shows whale wallets with over one million XRP have been accumulating big time. These large holders now control 47.32 billion XRP, which tells you sophisticated money is betting on XRP's future.
Between the positive regulatory news, strategic partnerships, and real utility through RLUSD, XRP seems to have found its footing again. With whales still buying and sentiment turning bullish, this could be just the start of a bigger move higher.
Usman Salis
