XRP Surges 8% as Market Rally Continues with $260M in Bitcoin Shorts Liquidated

XRP's price has surged by 8% over the past 24 hours, pushing it to $1.49 and breaking above a key resistance zone between $1.42 and $1.43.

This move is part of a broader market rally that saw the total market cap climb to $2.99 trillion, up 6.2%.

The increase in XRP's price can be attributed to several factors, including technical reasons such as breaking above resistance levels and order flow data showing steady buying absorbing sell pressure.

Ripple also announced that asset managers are preparing for the XRP Ledger's next major upgrade, called 'Batch,' version 1.1, which allows linked asset and payment transfers to succeed or fail together as a single unit.