Market Cap Nears $160 Billion in Historic Rally

TLDR

• XRP hit $2.74 with a 44.7% increase driven by institutional and retail buying
• WisdomTree has filed for a spot XRP ETF alongside three other companies
• The number of active addresses exceeded 116,000, showing strong network growth
• Large wallet holders added 679.1 million XRP worth $1.66 billion
• The total number of active wallets has surpassed 5.5 million, marking a historic milestone

The cryptocurrency market witnessed a sharp rise in XRP prices as the digital asset climbed above $2.70, registering a 44.7% increase in 24 hours. This move pushed XRP’s total market cap to $156.3 billion, solidifying its position among the top cryptocurrencies by market capitalization.

Market data shows an extraordinary surge in trading activity, with daily volumes increasing by 93.29% as both retail and institutional investors rushed to join the rally. The increase coincides with WisdomTree’s announcement that it will file a spot XRP ETF application, adding to the growing list of traditional financial institutions looking to offer regulated XRP investment products.

Network metrics paint a picture of robust growth: Santiment reports more than 116,000 active wallet addresses participating in transactions. This metric serves as a key indicator of network health and user engagement, indicating widespread adoption rather than speculative trading activity.

Large wallet holders, often referred to as whales in the cryptocurrency space, have shown increased interest in XRP. Analysis shows that addresses holding between 1 and 10 million XRP accumulated an additional 679.1 million tokens in three weeks, representing an investment of approximately $1.66 billion at current prices.

WisdomTree’s ETF application is the fourth such application filed with the Securities and Exchange Commission, joining previous filings from Bitwise, Canary Capital and 21Shares. The proposed fund would trade on the CBOE BZX exchange and initially utilize a cash creation mechanism, with transition to in-kind creation and redemption subject to regulatory approval.

Trading patterns on major exchanges exhibit different regional dynamics. According to Ki Young Ju, CEO of CryptoQuant, Coinbase reported price premiums of between 3% and 13% during peak trading hours, indicating strong demand from US investors. However, Upbit, which has a larger XRP trading community than Binance, has not displayed comparable premium prices.

The total number of XRP wallets containing any number of tokens has exceeded 5.5 million, setting a new record in the token’s eight-year history. This milestone indicates increasing retail adoption and wider distribution of XRP holdings across the network.

Technical indicators provide a complex picture of short-term price movements. The MACD indicator shows a bearish crossover pattern with the signal line moving above the MACD line. Additionally, the histogram has shifted into negative territory, potentially indicating a short-term consolidation.

Market sentiment metrics show a win-loss ratio of 0.374, indicating stronger selling pressure than buying pressure at current levels. This cautious trading behavior could pose a challenge to maintaining current price momentum.

Prominent crypto market analysts have expressed their views on the price movement of XRP. Trading expert Raoul Pal observed similarities between current chart patterns and previous formations that resulted in significant gains. Analyst CrediBULL Crypto noted the historical context of the breakout, highlighting how XRP eliminated 84 months of sideways trading in a single monthly candle.

The stablecoin holding ratio has fallen to 53.993% of total supply, suggesting that some large investors may be taking profits or reducing their exposure at this level. This metric is often used as an indicator of institutional sentiment and potential future price direction.

On-chain data shows increased network participation across all wallet sizes, from retail to institutional accounts. This broad exposure often indicates sustained price movements rather than short-term speculation.

Smaller time frame price movements show strong buying pressure during Asian trading hours, followed by sustained momentum in European and American sessions. This global participation has helped maintain steady upward pressure on prices.

The distribution of trading volume across exchanges shows balanced activity, with no single platform dominating the flow. This pattern typically indicates organic market movement rather than manipulation or concentrated trading activity.

At the time of writing, XRP is holding its position at $2.74, with market participants closely monitoring technical resistance levels and whale wallet movements for clues on future price direction.

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