XRP Surges 12% Amid Strong Altcoin Market Rally

XRP surged significantly on Friday, marking a 12% increase as the broader altcoin market posted strong gains and the global risk environment turned favorable for digital assets.

The bullish momentum wasn’t limited to cryptocurrencies alone. Traditional markets also enjoyed a lift, with global equities and gold futures showing positive moves while oil prices trended downward, heading for their most substantial weekly drop since June. This movement stemmed from easing trade tensions and mixed signals in the crypto derivatives and spot markets.

The shift in sentiment was supported by the de-escalation of U.S.–Japan trade friction. Japan’s Nikkei 225 rallied 2.3% after comments from trade leader Hiroshi Suzuki confirmed mutual agreements to eliminate compounded universal tariffs and lower automotive duties. Meanwhile, the MSCI Asia Pacific Index continued its upward trajectory, recording a 0.5% gain, extending its winning streak to five days.

In contrast, oil experienced significant pressure, with Brent and West Texas Intermediate (WTI) contracts slipping due to increased U.S. stockpiles and reduced Chinese crude demand, as reported by Bloomberg. The data point to a weekly drop of over 4% for oil, signaling softer energy consumption and macro hesitations.

Within the crypto landscape, the total market capitalization swelled by 3%, climbing to $3.76 trillion in the last 24 hours. Key altcoins spearheaded the rise. Ether (ETH) appreciated by 7.3% to reach $3,935, while XRP soared by 12% to trade at $3.36. Solana (SOL) also posted a solid gain of 4.7%, rising to $175.19, accompanied by Dogecoin (DOGE), which advanced 8.8% to hit $0.22. Bitcoin, however, lagged behind, inching up by just 1.9% and trading at $116,781 amid $38.8 billion in daily volumes.

Despite the bounce in altcoins, Bitcoin (BTC) appeared to consolidate in a tight band. FxPro’s chief analyst Alex Kuptsikevich noted that Bitcoin’s recent stagnation is shaped by a defined range between $112,000, corresponding to the 50-day moving average and recent lows, and the $120,000 resistance zone, which aligns with July highs and a key psychological threshold.

Sentiment indicators also showed caution in the Bitcoin sphere. According to on-chain analyst firm Glassnode, enthusiasm surrounding Bitcoin has waned. The market has transitioned from a state of “euphoria” to one of measured cooling. Spot Bitcoin ETF inflows have slumped nearly 25%, and notable declines in both network activity and transaction fees reflect the dampening fervor.

Adding to the narrative of caution, options markets are now showing enhanced hedging preferences. Traders are increasingly protecting portfolios against potential dips below the $100,000 level for Bitcoin as they anticipate a relatively dormant summer period in the crypto space.

Still, the spotlight belonged to altcoins, particularly XRP, as it delivered the standout performance of the week. The token’s double-digit rally reinforces its volatility and investor interest in assets perceived to have greater upside compared to the stabilizing Bitcoin. The overall uptick in risk appetite, fueled by macroeconomic optimism and easing trade anxiety, created the perfect backdrop for altcoins to shine.

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

With evolving market dynamics, XRP’s momentum could spell broader implications for the altcoin sector, inviting more attention from investors seeking diversified exposure beyond Bitcoin and Ethereum. Should the current trend hold, altcoins like XRP may continue driving market leadership while Bitcoin undergoes a consolidation phase.