XRP Surges 3.73% on Institutional Demand and Ledger Activity
XRP has seen a significant surge of 3.73% over the last ~33 hours, driven by sustained institutional demand and on-chain activity.
According to Finbold, XRP rallied despite being down after the Bitget hack, which drained roughly $157 million from the exchange, including 103 million XRP. This rally is attributed to strong demand from U.S. spot XRP ETFs and whales accumulating around 470 million XRP (about $724 million) over five days.
The sustained institutional bid has been building for several weeks, with Finbold reporting that XRP is up 4.12% over the past 24 hours to $1.57. This demand is reinforced by regulated products continuing to draw fresh capital into XRP exposure, with CryptoBriefing highlighting new ETF allocations of $22.65 million in XRP by Bitwise and Franklin Templeton clients on September 26.
The recent 33 hour move looks like the market extending prior strength rather than reacting to a brand new headline, as the price is moving in the context of sustained institutional demand. This makes smaller percentage swings more likely to be 'continuation moves' as fresh inflows absorb selling and traders lean into the trend.
Alongside the ETF story, on-chain signals on the XRP Ledger have flashed unusually strong over roughly the same multi-day window. The XRP Ledger is gaining traction in tokenization, cross-border payments, and DeFi compatibility, which supports the idea that this is not just empty speculation.