Why is XRP Price Up Today?

The post Why is XRP Price Up Today? appeared first on Coinpedia Fintech News XRP’s price has surged 26% this week, reaching $2.80, driven by a combination of powerful market catalysts. On-chain data reveals that whales now hold over 47 billion XRP, signaling strong institutional confidence. This accumulation, paired with a major short squeeze that liquidated millions in bearish bets, has intensified upward pressure. Additionally, growing speculation around a potential XRP spot ETF has fueled investor excitement, pushing the token closer to a breakout above $3 . What is Driving XRP Price Surge Today? Whale Accumulation Reaches New Peaks According to on-chain data from Santiment , the number of wallets holding over 1 million XRP has reached a record 2,743. These whales now control a combined 47.3 billion XRP. Santiment calls this trend a very positive sign for the fourth-largest crypto asset, reflecting deeper conviction among top-tier holders. Short Squeeze Pushes Price Higher As XRP pushed higher, nearly $31.4 million in short positions were liquidated in the last 24 hours alone. With bears getting squeezed out, momentum accelerated. The coin’s open interest now stands at $7.2 billion, its highest in six months and inching closer to the January peak of $8.3 billion. That’s more than double the $3 billion low seen in April, according to CoinGlass . Altcoin Season Heats Up This XRP breakout mirrors broader market excitement. Bitcoin recently smashed records, topping $116,500, while Ethereum gained 17.5 percent on the week, trading near $2,960. Santiment confirms the altcoin season is underway, with traders rotating profits from Bitcoin into major altcoins like XRP. I mentioned that $2.70-$2.90 was the zone to watch out for. So now that $XRP had touched $2.97 and rejected off the 0.786 fib at $2.90, we should stall out for a while, retest the lower support levels before we finally send higher. Exciting times ahead! https://t.co/pydkpn86UI pic.twitter.com/w6XadTDDUk — XRPunkie (@Shawnmark7899) July 12, 2025 XRP has gained nearly 7% over the past 30 days, steadily building strength since mid-June. It now ranks as the second-best performer this week after Ether. Recently, XRP surpassed a $170 billion market cap. Analysts believe that if XRP clears the $2.90 barrier, a move to $3 is likely. Despite its rally, XRP still trades 18% below its 2018 all-time high, which it nearly reclaimed in January. .article-inside-link { margin-left: 0 !important; border: 1px solid #0052CC4D; border-left: 0; border-right: 0; padding: 10px 0; text-align: left; } .entry ul.article-inside-link li { font-size: 14px; line-height: 21px; font-weight: 600; list-style-type: none; margin-bottom: 0; display: inline-block; } .entry ul.article-inside-link li:last-child { display: none; } Also Read : Ripple CEO Brad Garlinghouse’s Net Worth Climbs to $10B After SEC Settlement , Short and Long-Term Outlook In the near term, if momentum continues and XRP holds above $2.60–$2.65, analysts see $3 as an achievable target by August. Long term, a successful XRP ETF approval combined with sustained whale activity could push the token to $3.50–$4 by Q4 2025. With RSI near 66, technicals still leave room for upside. ETF Buzz Adds Fuel The SEC has fast-tracked ETF reviews, cutting wait times to just 75 days. Futures-based XRP ETFs are expected between July 14 and 25, but the real catalyst would be a spot ETF approval. 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