XRP Surges 2.6% as Futures Launch Sparks Institutional Hype

Ripple (XRP) has shown signs of strength over the past 24 hours, climbing 2.64% to hit $2.35. While the broader crypto market remains cautious, XRP’s uptick is drawing fresh attention, especially as institutional interest builds. The day’s range stretched from a low of $2.29 to a high of $2.41, indicating a solid upward push during the trading window.

Interestingly, despite the price gain, 24-hour trading volume fell by 21.26% to $3.1 billion. This divergence between price and volume can sometimes hint at a weakening rally, but it may also signal holders becoming more confident and less eager to sell. The market cap rose in line with the price, now sitting at $138.03 billion, a 2.64% increase.

Source: CoinMarketCap

Community Sentiment Is Overwhelmingly Bullish

XRP’s on-chain and social indicators reveal strong community backing. Over 88% of voters on CoinMarketCap tagged the sentiment as bullish. The announcement of CME launching XRP futures has boosted optimism. This move is widely seen as a step toward deeper institutional adoption, potentially placing XRP in the same league as Bitcoin and Ethereum on Wall Street’s radar.

Currently, XRP has a circulating supply of 58.62 billion tokens out of a 100 billion max supply. With a total supply nearing 100 billion XRP, scarcity isn’t XRP’s strength — utility and adoption are. Still, its fully diluted valuation stands tall at $235.45 billion, showcasing long-term confidence.

Historical Context Keeps Expectations in Check

Despite today’s jump, XRP remains 38.82% below its all-time high of $3.84 set in January 2018. However, it’s up a staggering 83,780% from its all-time low of $0.002802 back in July 2014. These figures reflect how far the asset has come — and how much further it could still go.

Compared to previous days, XRP’s performance today stands out, driven by momentum rather than hype alone. With big players now able to access XRP via futures, the token may gain more traction from traditional finance.

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Short-term momentum looks promising. If bullish sentiment holds and institutional inflows continue, XRP could challenge the $2.50 resistance soon. However, investors should keep a close eye on volume and broader market cues. The futures launch may be a game-changer, but XRP will need more than headlines to sustain a breakout.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.