XRP Surges 8% to Near $3 as ETF News, Institutional Demand, and Profits Drive 400% Yearly Rally

XRPUSDT has experienced a notable price increase over the past 24 hours, with its price rising 8.10% to $2.9999 on Binance. This surge is primarily attributed to heightened institutional interest, significant accumulation by large holders, and strong trading activity, as evidenced by a 178.92% spike in 24-hour trading volume. Additional contributing factors include the announcement of ProShares' upcoming XRP ETF launch, bullish technical patterns identified by analysts, and positive sentiment surrounding Ripple's stablecoin plans and partnerships. The market is also responding to the recent sale of 140 million XRP and the fact that approximately 95% of current XRP holdings are in profit, further fueling momentum.

Currently, XRP is trading near $3.00 with a circulating supply of about 59 billion, a market capitalization estimated around $176 billion, and a fully diluted valuation near $281.55 billion. The asset has outperformed the broader crypto market, posting over 30% gains in the past week and a year-over-year increase exceeding 400%.