Key Highlights
- XRP surged above $1.50, briefly adding about $1.48 billion to its market cap and reclaiming the #4 crypto rank.
- The token surged due to strong ecosystem growth, as XRP is now usable on Solana via wXRP, and can also be bought using Rakuten loyalty points.
- Institutional demand is rising, with XRP ETFs pulling in $41.64 million in weekly inflows, the highest in three months.
XRP, the native token of Ripple, is back in the spotlight as its price climbed above $1.50 in the last 24 hours, as demand increased across the crypto market.
At press time, XRP is trading around $1.48, suggesting that the market is now stabilizing after reaching a high. This is a 1.71% surge in 24 hours, adding to an 8.96% surge in the last seven days. In fact, the push has helped the token return to the number four spot by market value.
In addition, the market activity has gone up by 8.37% over the same period, reaching about $4.42 billion in volume. During this move, XRP added about $1.48 billion to its market cap in just one hour, pushing the market cap to about $91.1 billion, with over 61.5 billion tokens in circulation.
XRP expands into Solana DeFi ecosystem
This surge comes as Ripple expands its network. Earlier today, Solana confirmed that XRP is now available on its blockchain through a wrapped version known as wXRP.
In a post on X, Solana stated, “BREAKING: XRP is live on Solana,” while clarifying that XRP remains native to the XRP Ledger and that users on Solana interact with the wrapped version backed 1:1 by real XRP held in custody. The integration allows XRP to be used across decentralized finance applications, including trading, lending, and liquidity pools on platforms such as Phantom, Jupiter Exchange, and Meteora.
Moreover, Japan-based tech firm Rakuten confirmed that it has introduced another layer of access by allowing users to convert loyalty points into XRP. This means that users can now hold XRP in Rakuten Wallet, use it within Rakuten Pay, and spend through more than 5 million merchant locations. In short, 44 million users managed by the firm will access XRP and use it across more than 5 million merchant locations.
Institutional inflows and ETF demand rise
Aside from this, institutions are playing their part. According to data from Sosovalue, XRP ETFs recorded about $41.64 million in inflows for this week, making it the highest weekly inflow in about three months.
Last week, only about $11.75 million in inflows was recorded. Inflow on April 16 recorded $11.87 million alone. Bitwise came in with the highest inflow, reaching about $7.16 million, followed by Franklin with $3.16 million. This pushed the total net inflow to about $1.26 billion.
XRP price breaks above key resistance
Looking at the daily price chart, XRP has broken above the $1.45 resistance that has been acting like a strong wall before, where the price kept getting rejected. Now, the current price is displaying a handover to buyers as the price keeps pushing up.
After breaking $1.45, the price now ranges between $1.47 and $1.50. Another thing to note is momentum. Based on the recent rise, XRP may be getting close to an “overbought” level. This simply means the price has gone up fast in a short time. When this happens, the market may pause or drop a little before moving again.
If XRP can stay above $1.45, that level could now act as support. In simple terms, it can become a new floor that holds the price up, which would help it build strength for another surge.
The next key level to watch is $1.50. If XRP breaks and stays above it, the price could continue going up. But if it falls back below $1.45, it may show that the breakout was weak, and the price could drop in the short term.
For now, the chart shows bullish momentum but also a small slowdown after a sharp climb.
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