On July 18, XRP reached a new all-time high of $3.65, finally surpassing its record from January 2018, thanks to its distinction in an uncertain crypto market. This increase of more than 70% in the last 30 days, according to data published by cryptoRank, accelerated last Friday with a stunning 16% rise in a single day, driven by two bullish hourly candles of nearly 5% each.
In a message disseminated on X, the analysis platform confirmed: "XRP reaches a new all-time high – Today, the $XRP from @Ripple rose to $3.65, its highest level ever recorded, showing an advance of more than 70% in the last 30 days".
Subsequently, a technical correction occurred, bringing the price to around $3.44, but without affecting the underlying bullish dynamic.
Beyond the price, other indicators confirm the market's enthusiasm around XRP. Activity in derivative products has exploded, reflecting the interest of investors and professional traders. Here are the key points to highlight:
◽Open interest in XRP derivatives at $10 billion, a historical record illustrating the increase in open positions;
◽An increase in intraday volatility, amplified by strong growth in trading volume;
◽A speculative climate fueled by a series of optimistic posts on social media, especially around Ripple and its regulatory environment;
◽The end of a long phase of stagnation: XRP had not reached such levels in over seven years, particularly due to its legal battle against the SEC.
In summary, this bullish momentum is not solely explained by technical considerations or market signals, but is part of a deeper dynamic of reevaluation of the asset by traders, in light of a new regulatory context.