Aniket Pujari
Ripple’s native token has joined the overall market rally in the past 24 hours and has surged by 10% since its recent bottom of $2.00 to just over $2.20 marked earlier today.
Aside from the broader market’s revival, there might be another notable reason behind XRP’s impressive surge now.
XRP has largely mimicked the rest of the market over the past few days, crashing from $2.20 to just under $2.00 on Monday during the December 1 correction. At the time, analysts outlined the crucial support level that the asset needs to hold to resume its rally.
The bounce since then has been quite impressive, as the token jumped by more than 10% from the bottom to its local top. And while the market moves are undoubtedly among the main culprits behind the asset’s surge today, there might be another, related to the performance of spot XRP ETFs in the US.
Recall that they reigned supreme over the BTC, ETH, SOL, and DOGE funds ever since the first XRP-focused product (Canary Capital’s XRPC) launched in mid-November.
This dominance continued on Tuesday, as the XRP ETFs attracted $67.74 million, more than all the rest – the BTC products saw $58.50 million in net inflows, the SOL funds gained $45.77 million, while the ETH financial vehicles were in the red again, losing almost $10 million.
Despite today’s resurgance and double-digit gains, XRP remains in the red on a year-to-date basis. It entered 2025 at $2.32 and is now around 5% lower, even though the company behind it has recorded its best year to date, with multiple acquisitions, the conclusion of the SEC lawsuit, and other bullish developments.
The post Why Is Ripple’s (XRP) Price Up 10% Today? appeared first on CryptoPotato.
