XRP Surges 45% as Altcoin Market Recovery Takes Hold

Ripple's XRP has been experiencing a winning streak in recent times. Following Bitcoin's rise to $80,000, altcoins have seen a notable recovery, with XRP leading the pack. Currently trading at $1.39, XRP is the fifth most valued cryptocurrency by market capitalization and has recorded a 45% price surge this week.

This growth can be attributed to high buying pressure, which suggests strong market demand for the asset. Additionally, on-chain activity has seen a significant increase in addresses, indicating growing interest in XRP.

The Bitwise XRP ETF has also experienced a notable spike, with volumes reaching over $80 million today and over $60 million each of the prior two days. This is its highest volume day since inception, according to Teddy Fusaro, President of Bitwise.

As reported by Cryptoinsight, XRP's current price action bears striking similarities to the beginning of a major impulse in late 2024, which took the market from $0.50 to over $3.