XRP’s market value surged dramatically as the cryptocurrency neared its 2018 peak following a major internal transaction by Ripple and favorable regulatory developments. The asset rallied over 20% in 24 hours, inching toward its all-time high of $3.85 set seven years prior.
A transaction involving 210,669,117 XRP tokens, equivalent to approximately $738 million, was executed internally within Ripple’s systems. This significant movement captured market attention as technical indicators signaled renewed institutional accumulation pressure.
The regulatory environment significantly reinforced investor confidence with the passing of the Genesis Act, which established clear stablecoin guidelines and bolstered prospects for Ripple’s RLUSD stablecoin. Concurrently, the launch of the first XRP-focused exchange-traded fund provided additional legitimacy and access to traditional capital markets.
Despite a minor consolidation phase, XRP continues to trade at approximately $3.56 with sustained upward momentum. Analysts suggest the convergence of large asset movements and positive regulatory catalysts could reignite broader investor interest across cryptocurrency markets.