XRP has surged to a new all-time high, breaking a seven-year record as momentum builds across the altcoin market.
On Friday, July 18, the token reached a new record high of $3.64, above its previous high of $3.40, set in January 2018. According to crypto.news price tracker, XRP (XRP) is trading at $3.59 as of press time, up 18% in the last day and 40% in the last week.
Following the latest surge, XRP’s market value has risen to $212 billion, making it the third-largest cryptocurrency by market capitalization, outpacing Tether (USDT). Its market capitalization has increased by 65% in the last month alone as investor interest in the token grows.
There has also been a notable increase in trading activity. The spot trading volume of XRP increased by 135.5% over the last day to $19.05 billion. Derivatives markets followed suit.
Futures trading volume surged 162.6% to $46.65 billion and open interest has risen 27% to $11.11 billion, according to Coinglass data. The rise in derivatives activity points to growing speculation and increased positioning among traders.
Several factors appear to be fueling XRP’s rise. One major driver is Ripple’s recent push into regulated finance. Ripple and Circle (USDC) applied for a U.S. National Trust Bank charter at the beginning of July. If accepted, the move would bring Ripple under federal oversight and position it closer to the U.S. financial system.
At the same time, Ripple is preparing its stablecoin RLUSD for broader use, in line with emerging U.S. regulation. Momentum picked up sharply after the House passed the GENIUS Act on July 17, a bill that sets clear rules for stablecoin issuance. The legislation mandates full reserve backing, regular audits, and licensing requirements, criteria that Ripple has already moved to meet with RLUSD.
The company is seeking a Fed master account and has appointed BNY Mellon as the custodian of its reserves. With the GENIUS Act likely to become law, RLUSD could gain an early advantage in the compliant stablecoin sector, further increasing demand for XRP.
Institutional interest in XRP has also been rising. In a new stage of institutional adoption, VivoPower International and Webus have announced plans to purchase a total of $421 million worth of XRP for their corporate treasuries. These developments have strengthened investor confidence and contributed to the latest price surge.
Ongoing developments in Ripple’s legal battle with the U.S. Securities and Exchange Commission are supporting bullish sentiment. Both Ripple and the SEC have expressed interest in withdrawing their appeals, suggesting that a full settlement is on the horizon.
Another potential catalyst that market watchers are closely monitoring is the possibility of U.S.-listed XRP exchange-traded funds. Similar to how spot Bitcoin (BTC) and Ethereum (ETH) ETFs have enabled institutional inflows, an XRP ETF may draw capital from wealth managers, retirement funds, and financial advisors if regulatory barriers continue to drop.
