Why is XRP Price Up 10% Today?

$XRP is trading at $1.46, up 10% over the past 24 hours, as the broader crypto market rallies with Bitcoin surging above $80,000. Bitcoin is now up $23,000 since its July 1 low, according to The Kobeissi Letter, with the momentum spilling over into altcoins including $XRP.

Adding to the risk-on mood, the Wall Street Journal reported that President Trump is privately weighing whether to formally declare the Iran war over, and reportedly favors the idea. The news comes even as Iran launched a surprise attack on US assets in Kuwait, with no prior US strike, and Washington has yet to respond to Iranian attacks the night before that hit seven US bases across five countries.

A US official cited concerns over surging oil prices and interceptor stockpiles now nearly depleted. Easing war fears appear to be feeding into today’s broader crypto rally.

Technically, $XRP broke out from a $1.36 consolidation zone to hit $1.42 and above, with cumulative volume delta data showing buyer pressure reversing sharply from a $4.0 million deficit toward just $1.0 million, pointing to heavy spot and futures accumulation.

Coinbase’s institutional order flow showed high-volume trades executing throughout the climb from $1.38 to $1.42. Analyst ChartNerd flagged the 50-week EMA at $1.53 as $XRP’s next important level to clear on a weekly close.

$XRP’s institutional backing has been building steadily too. The token posted a 28.5% gain in August, its best since 2021, while US spot $XRP ETFs pulled in a record $1.66 billion in cumulative inflows through last week. Bitwise’s spot $XRP ETF alone has crossed $500 million in assets in just nine months.

Additionally, Evernorth, an $XRP-focused treasury firm backed by Ripple, SBI, Pantera Capital and Kraken, had its SEC registration declared effective, with a shareholder vote set for September 30 that would list it on Nasdaq under the ticker XRPN.