The XRP cryptocurrency market had an exceptionally strong day. The token added $8 billion to its market capitalization, and its price rose by almost 3% to $2.98. Institutional investors and new projects are entering the game, giving the token further momentum.
XRP is rising thanks to institutional purchases and new programs in Japan
In a single day, the market capitalization of XRP rose from $170.8 billion to $178.8 billion. Daily trading volume increased by 21% to $6.5 billion. Making XRP one of the most actively traded cryptocurrencies with high capitalization. In addition, on-chain data shows that large players are massively accumulating tokens — 250 million XRP were purchased within 48 hours.
Another important catalyst for growth was a new credit program from SBI Holdings in Japan that uses XRP. The launch of the program led to an increase in trading activity of 164.5 million tokens, double the normal daily average. The rally was also supported by VivoPower, which announced a $19 million capital increase to expand its XRP reserves.
XRP heading towards the $3 mark
XRP’s fully diluted market capitalization is now just under $300 billion. The number of addresses on the XRP Ledger network remains stable, indicating long-term investor interest despite the token often being overshadowed by bitcoin and ethereum. For XRP, such a one-day capital rotation represents a significant milestone.
Further developments will depend primarily on market sentiment and key price levels. The psychological threshold of $3 acts as strong resistance, and Bitcoin’s dominance at 58% may limit the inflow of liquidity into altcoins. With the ETF decision approaching, XRP faces the question of whether it can maintain support at $2.93 or face possible regulatory hurdles.
