XRP Rockets 13% to $3.36 – Biggest Daily Leap in Two Weeks

XRP just pulled off its most aggressive rally since late July, defying the crypto market's usual mid-summer slump. The remittance token smashed through resistance levels like a bull through a china shop—no subtlety, just momentum.

Why the sudden surge?

While Bitcoin waffles between support zones, XRP's liquidity corridors are seeing unusual activity. Could be institutional players testing waters before Q3 closes—or just traders bored with stablecoin yields.

The cynical take:

Another 'utility token' pumping on pure speculation while VCs quietly unload bags. At least this time it's not dressed up as 'blockchain adoption'—just good old-fashioned greed.

Institutional Bets and Legal Clarity Fuel XRP’s Momentum

Lin Chen, Deribit’s Asia Business Head, noted growing institutional demand for XRP options, prompting the exchange to launch year-end contracts. Speaking to CoinDesk, Chen said, “XRP has outperformed BTC this year, and we are now seeing a surge in block trades and institutional interest in XRP options.”

Adding to the momentum, Ripple and the U.S. Securities and Exchange Commission (SEC) agreed on Thursday, August 7, to dismiss their appeals in a long-running legal battle. The resolution removes years of uncertainty over XRP’s regulatory status, a major overhang for investors.

At the time of writing, XRP WAs trading at $3.36 with a 24-hour volume of $10.93 billion. The token is up 12.96% in the past day, giving it a market cap of $199.33 billion, according to CoinMarketCap. The platform tracks real-time cryptocurrency prices, market rankings, and trading data across global exchanges.

As the legal clarity has now been established and institutional positioning has become hot, traders anticipate greater volatility, and possibly more upside, in XRP in the weeks to come.

Also Read: Analyst Target xrp price $4 as SBI Files for XRP ETF