XRP, the third-largest cryptocurrency by market capitalization, has risen more than 12 percent in the past 24 hours to $2.87, the highest level since 2018, according to Coinmarketcap.
This surge comes amid growing speculation around the XRP ETF, with JPMorgan predicting it could raise up to $8 billion.
Analytics platform Santiment reports that the rally is being fuelled by a significant build-up of portfolios holding between 1 and 10 million XRP, with these portfolios now holding 37% more tokens than they did two months ago.
The rally also coincides with the imminent departure of Securities and Exchange Commission (SEC) Chairman Gary Gensler.
XRP is now just 16% away from reaching a new record high, marking its best price in seven years.
At the time of writing, the altcoin is trading at $2.86, reflecting over 20% growth on a weekly basis.
A growing number of publicly traded companies are turning to XRP as a potential reserve asset, signaling a shift in how institutions view the utility of digital assets in treasury management.
Coinbase has taken another step toward boosting cross-chain utility by introducing wrapped versions of XRP and Dogecoin on its Layer 2 network, Base.
While Bitcoin continues to capture attention with its strong 2025 outlook, several altcoins may be facing near-term turbulence.
BlackRock is making another assertive move into digital assets, quietly expanding its crypto portfolio with sizable purchases of both Bitcoin and Ethereum.