XRP price jumped nearly 10% today, pushing the price close to $2.30. Meanwhile, this rise came at a time when most top cryptocurrencies are still struggling to recover from last week’s drop.
So, what exactly pushed the XRP price up today?
The biggest driver behind today’s rally came from the newly launched spot XRP ETFs, which officially began trading on November 24, followed by other XRP ETF applicants Bitwise and Canary.
By the end of Monday’s trading session, the four XRP ETFs together recorded more than $85 million in volume , showing that both institutions and retail traders are taking XRP seriously as a long-term investment asset .
Another factor fueling the rally is noticeable whale activity. On-chain trackers recently spotted two major transfers :
• A $33.6 million XRP transfer into Coinbase
• A massive $73.1 million transfer into a newly created wallet
Large Whales usually move like this when they expect bigger upside ahead. Their accumulation adds confidence and reduces selling pressure, giving XRP room to climb.
- Also Read :
- XRP ETF Report: Bitwise Holds the Lead as Four Funds Hit $85 Million on Monday
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Ripple’s growing global presence is another reason behind XRP’s recent price pump. Coinpedia news reported that SBI Group’s CEO confirmed that the company owns about 9% of Ripple, calling XRP a key bridge for cross-border money movement between the U.S. and Asia.
Even discussions within BRICS about advanced settlement systems align closely with XRP’s design.
This global acceptance gives traders a bigger picture: XRP is not just a token; it’s becoming a recognized cross-border payment tool.
Now, XRP has finally bounced from the bottom of that wedge and is moving up again after breaking the key resistance level of $2.06. If this move continues, the next big step would be a breakout from the wedge, and in the past, this pattern has often led to strong rallies.
The analyst says that if the breakout is clean, XRP could rise quickly toward $3.50, which is marked as the most realistic target.
Another reason this target looks possible is the growing demand from ETFs. Right now, 6 XRP ETFs are already live, and 13 more are preparing to launch, meaning more money could flow into XRP in the coming weeks, boosting demand and price.
