XRP has surged approximately 27.9% over the past week, pushing its market price to about $2.84 and catapulting its market capitalization to around $167 billion — surpassing Tether to become the third-largest cryptocurrency.
This rally is underpinned by rising demand from whale wallets and on-chain accumulation, indicating that institutional and high-net-worth investors are re-entering the space en masse. Technical charts confirm the momentum: XRP broke out from a descending wedge pattern, with trading volume spiking to $14.24 billion — nearly triple the daily average.
Critical short-term support has formed around $2.53–2.54. A clean move above $2.60 could pave the way toward the $2.70–$2.90 zone. Analysts are even eyeing longer-term targets in the $5 range if demand continues. Positive regulatory developments for Ripple, including improved clarity around XRP’s legal status and momentum from RLUSD, add fundamental fuel to the rally.
This move represents more than just speculative trading—it’s a narrative shift toward XRP reclaiming its role as a dominant crypto asset. If accumulation continues and investor confidence builds, XRP’s current breakout might not be just short-term hype but an indicator of reemerging institutional support.