XRP Surges as Whale Activity and ETF Buzz Fuel Rally

XRP has captured attention across the crypto space as whale movements and upcoming ETF developments ignite bullish momentum. The focus keyword XRP has become central to conversations in the market as the token approaches a crucial psychological resistance zone.

Following a dramatic rebound, XRP has surged nearly 80% from its April low, briefly nearing the $3 mark. In just the past 24 hours, the cryptocurrency jumped another 8%, contributing to a 25% weekly rise. This performance places XRP among the strongest digital assets currently trading, signaling renewed interest from both institutional and retail participants.

XRP Climbs Amid Bitcoin-Led Market Momentum

The rally in XRP aligns with broader cryptocurrency trends. Bitcoin recently broke to a new all-time high of $118,800, lifting sentiment across the digital asset landscape. XRP’s sharp climb highlights a shift in momentum after a prolonged period of stagnation, reviving investor confidence in the asset.

Whale Transfers Light Up Market Interest

Blockchain transaction trackers have revealed a flurry of high-value moves involving XRP. According to Whale Alert, a single transfer of 33 million XRP — valued at approximately $90 million — was conducted from the Upbit exchange to an unidentified wallet. Another sizable shift involved 40 million XRP, worth over $100 million, being exchanged between two unknown addresses, sparking speculation within the trading community.

In a distinct transaction, over 25 million XRP were transferred from a private wallet to the Coinbase exchange. While the intent behind these significant transfers remains uncertain, such movements often occur ahead of or in response to price volatility. These actions have only intensified the speculative outlook surrounding XRP.

ETF Anticipation Drives Trading Volume

Another crucial force behind XRP’s upswing is the jump in volume for XRP-related exchange-traded products. Industry expert Eric Balchunas highlighted a substantial spike, noting trading activity for these ETFs rose by four to five times their average. The most prominent performer, the leveraged 2x XRP fund ($XXRP), climbed 27% in a single day and 55% over the past week, with an impressive $120 million in volume.

These developments come ahead of ProShares’ expected launch of three XRP futures exchange-traded funds: Ultra XRP, UltraShort XRP, and Short XRP — all slated for release on July 14. The approval of these products hinges on regulatory green lights from the U.S. Securities and Exchange Commission (SEC). Investors are watching closely as the agency’s upcoming decisions will be pivotal for market direction.

Market Eyes $4 Target

Riding high on its current momentum, XRP is now being watched for a potential move beyond $3 and even toward $4. Crypto strategist Edoardo Farina weighed in on the situation, noting that a breakout wouldn’t be surprising given current dynamics.

XRP has not returned to its all-time high in more than seven years, but the present conditions — characterized by whale transfers, ETF anticipation, and strong technical patterns — suggest a renewed rally is underway. Traders are positioning accordingly, reading the charts for clues as market volatility remains a constant.

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

With interest from major players and possible institutional inflows via the upcoming ETFs, XRP’s current trajectory has reignited faith among long-standing holders and new entrants alike. Whether this momentum can sustain through regulatory hurdles and broader market fluctuations remains to be seen, but for now, XRP has re-entered the crypto spotlight with conviction.