XRP Rises 48% in Week, Breaks Above $1.40 Level

XRP has experienced a significant surge in value over the past week, rising by approximately 48% to regain the $1.40 level.

This puts XRP among the top gainers among major cryptocurrencies, with its market capitalization also increasing by around $24 billion in three days to reach $86.82 billion.

The cryptocurrency's weekly gains place it near the top, with CoinMarketCap data showing Ethena (ENA) leading with a rise of about 64%, followed by SPX6900 (SPX) with gains of more than 41%. XRP rose 39.70%, ranking third in the list.

The rebound is seen as a recovery of levels that broke down in mid-May, when XRP hit a high of $1.54 before falling sharply and sliding to a low of $1.05 in early June.

Technical indicators suggest that XRP has moved above its 20-week exponential moving average (EMA), and the market is now watching whether it can break above $1.5417, the 50-week moving average.