XRP Surges Past $3.3 as Liquidations Top $40M

XRP has surged past the $3.3 threshold, inching closer to its all-time high and signaling renewed bullish momentum in the crypto market. This latest rally has reignited investor enthusiasm while triggering a wave of liquidations totaling over $40 million among leveraged positions.

Ripple’s native token is currently experiencing an impressive resurgence. The digital asset has gained approximately 50% in the last week after breaking free from a prolonged consolidation phase. From its late June low of $1.90, XRP has now climbed by an astounding 75%, marking a significant reversal from its earlier stagnation.

Just moments ago, XRP touched a six-month high of $3.34 on Bitstamp, coming within 2% of its January 2018 all-time high of $3.40. Although it has slightly pulled back since reaching that milestone, it still holds firm above the $3.30 mark, reinforcing the strength of the uptrend.

Over the past few months, XRP faced a critical $3.40 resistance wall, which it previously failed to breach in January of this year. Some analysts and even predictive AI models have highlighted that surpassing this level may be tougher than many anticipate due to historically entrenched selling pressure. Nevertheless, current bullish indicators suggest that renewed attempts to crack this resistance could be on the horizon.

The rapid ascent in XRP has come at a cost for highly leveraged traders. In the past 24 hours alone, liquidations tied solely to XRP totaled over $44 million. A large portion—nearly $29 million—came from short positions, highlighting how many traders were caught off guard by the sudden rally. The fast-paced market conditions have amplified volatility, making both long and short positions risky for overleveraged participants.

While Bitcoin and Ethereum continue to lead in total daily liquidations, XRP’s spike has positioned it as a notable player in disrupting market expectations. Ethereum recently surged to nearly $3,500, contributing to broader movements across altcoins and reinforcing the narrative of a market-wide uptrend.

Despite XRP trailing larger market peers in terms of total liquidations, its trajectory this week has turned heads across the crypto community. The break above the psychological $3.3 level has been eagerly watched by investors as a signal of renewed trust in Ripple’s ecosystem and long-term potential.

Though still slightly under its historic peak, XRP’s performance suggests that market participants see renewed utility and momentum behind the asset. Traders now eye the all-time high barrier once more, testing just how resilient this level will remain in the face of surging demand and increasing capital inflow.

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

With XRP showing strong technical signs of continuation, both investors and traders are closely monitoring the next few sessions for a potential breakout beyond $3.40. Whether this uptrend sustains or faces resistance could define the token’s macro trend for the remainder of the year.