XRP Price Rally Pushes Ripple to Historic Highs

XRP has captured major attention following its powerful surge in value, making it one of the standout assets in the cryptocurrency space this month. The digital token associated with Ripple has now reached levels never before seen in its history, solidifying its position among the top cryptocurrencies.

After more than seven years of patiently waiting, XRP investors witnessed the asset climb beyond its former record high, peaking at over $3.60. This monumental achievement eclipsed its previous top of approximately $3.40, which was recorded in early 2018. As a result, XRP’s total market capitalization soared to surpass $200 billion, securing its place as the third-largest crypto by market cap—well ahead of competitors like USDT.

The recent XRP rally appears to be driven by an array of bullish developments. A surge in retail and institutional interest, coupled with significant growth across the Ripple network, has played a central role. In particular, increased whale accumulation has heightened the token’s upward momentum, as detailed in this whales’ accumulation report.

Legislative progress in the U.S. toward establishing clearer regulations for cryptocurrencies has also added fuel to XRP’s trajectory. Recently passed crypto-friendly bills have contributed significantly to market confidence surrounding XRP and other digital assets.

Sentiment across crypto-focused platforms such as X remains overwhelmingly optimistic. Analyst Ali Martinez suggests that if XRP can achieve a weekly close above the $3 mark, it could be well on its way to testing resistance near $4.80. Meanwhile, crypto commentator Javon Marks has projected a potential rally to as high as $10, citing favorable technical indicators and growing investor confidence in his forecasts.

While XRP leads the headlines, other assets like SHIB and BTC also had notable developments. Shiba Inu (SHIB), the second most prominent meme token, experienced a 30% jump in value over a two-week period. At one point, SHIB’s market cap briefly exceeded $9 billion. Despite this gain, many long-term holders are still at a loss, with approximately 45% of them holding tokens below their purchase price. This is an improvement from earlier in the week when the figure stood at 54%, according to this investor insight.

However, chart analysts believe the meme coin could see substantial future gains. One X user, CJ, highlighted a bullish technical structure suggesting SHIB may be on the brink of another breakout.

Meanwhile, Bitcoin (BTC) reached a new all-time high of around $123,000 earlier this month, although it has since pulled back slightly to approximately $119,000. Some market participants remain bullish on its continued climb. Metrics such as the Market Value to Realized Value (MVRV) ratio support this view. Currently, BTC’s MVRV stands at 2.36 — historically, this is not yet considered overbought, as price tops tend to occur at values above 3.7.

Other positive catalysts include ongoing capital inflows into spot Bitcoin ETFs, indicating strong investor demand. On-chain data also shows that whales have been actively accumulating BTC, adding further credibility to the ongoing bullish trend, as noted in this accumulation report. ETF inflow data from SosoValue’s ETF tracking page supports this perspective, documenting strong fund inflows during the recent price surge.

Related: XRP Price: $12M Max Pain for Bears

In summary, XRP continues to make historic gains backed by solid fundamentals and regulatory advancements, while SHIB and BTC also offer promising prospects amid this bullish cycle. The market remains in an optimistic state, with investors eyeing further highs — particularly for XRP, which is basking in a long-awaited resurgence.