XRP Surges 21% Amid Broader Crypto-Market Recovery and Institutional Demand

XRP's price has surged by 21% in recent days, breaking out of a months-long compression and sparking a fresh rally. The token's price is now being propelled higher by a combination of factors, including a broader crypto-market recovery and increasing institutional demand.

The spot XRP ETFs have seen significant inflows, with $13.24 million in net inflows on August 20, bringing the total to nearly $1.2 billion in XRP exposure since July. This influx of capital is also being driven by Bitwise clients purchasing approximately $16.89 million worth of XRP.

XRP's daily chart shows a decisive structural breakout, with the token breaking through a descending trendline and reclaiming the $1.55-$1.60 resistance band. The next major resistance area is now at $1.70-$1.75, and a daily close above this level would strengthen the breakout and expose the $2.00-$2.10 region as the next target.