$XRP #AltcoinBreakout #CryptoMarket4T
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XRP has surged to a new all-time high, achieving the highest weekly close ever at around $3.45 and reclaiming its position as the third-most valuable cryptocurrency asset. The market capitalization of XRP has also increased by nearly $100 billion in the past 30 days, exceeding $206 billion.
Thus, XRP is the first large-cap altcoin to enter the price discovery phase of the cryptocurrency bull run in 2025, marking significant excitement in the XRP enthusiast community, who have long awaited this XRP price surge since Ripple's legal victory over the SEC.
Top Reasons for XRP's Surge to a New ATH
The rise in XRP prices over the past few weeks has been supported by strong fundamentals and a clear legal environment in the United States. For example, on June 27, 2025, Ripple filed to withdraw its cross-appeal in the ongoing legal dispute with the Securities and Exchange Commission (SEC).
According to Brad Garlinghouse, CEO of Ripple, the SEC is also expected to withdraw its appeal, signaling the end of the lawsuit. Additionally, the recent price increase of XRP has also been influenced by the Senate and House passing the GENIUS Act, which was subsequently signed into law by President Donald Trump.
The GENIUS Act will play a crucial role in the widespread adoption of Ripple USD (RLUSD), which operates on the XRPL network. Notably, each RLUSD transaction contributes to the overall XRP burn rate, reducing the market supply of this coin amid increasing demand.
The rise of XRP to its all-time high has also been supported by an increase in open interest (OI) in futures contracts. According to market data analysis from Coinglass, since President Trump recommended that investors buy U.S. stocks on April 9, 2025, XRP's OI has risen from $3 billion to around $11 billion at the time of this report.
Has the 2025 Altseason Started Yet?
According to Benjamin Cowen, a cryptocurrency market analyst, the ongoing altcoin frenzy is driven by Ethereum's price increase. Moreover, the ALT/ETH pair has significantly decreased over the past few weeks, indicating that Ether has outperformed smaller-cap altcoins recently.
With the XRP price surge to a new ATH, Cowen emphasizes that the altcoin pair compared to Bitcoin reached a local bottom in June 2025. Therefore, this cryptocurrency analyst predicts that the ongoing altcoin rally will conclude at the latest by the end of August 2025.