XRP Sets All-Time High at $3.40, Market Cap Surpasses $200 Billion
A major milestone for XRP as the cryptocurrency officially returns to its all-time high of $3.40 for the first time since 2018. The strong breakout has pushed XRP’s market cap past $200 billion, reaffirming its position as one of the world’s three largest digital assets by market cap.
XRP Leads Altcoin Bull Run
In just 24 hours, XRP has surged more than 10%, bringing its year-to-date gains to over 60%. However, what’s more impressive is XRP’s performance over the past 12 months, with the cryptocurrency gaining over 430%. This development not only reflects XRP’s strong resurgence, but also shows the growing confidence of long-term investors, despite past regulatory hurdles and challenges.
In the context of the altcoin season being vibrant again, XRP stands out as a leading force leading the increase. At the same time, many other altcoins also recorded significant growth such as Ethereum, BNB, Solana and Dogecoin. In particular, ADA and HBAR also entered the list of top 20 assets with an increase of over 5% in the day, contributing to the clear recovery picture of the entire altcoin market.
Capitalization Returns to Peak, Market Explodes
The impressive recovery has helped XRP regain a solid position in the top 3 largest digital assets globally. The capitalization of over 200 billion USD is not only symbolic but also demonstrates the growing scale and influence of XRP in the global cryptocurrency ecosystem. This explosion comes in the context of the general market also improving, when many retail and institutional investors begin to return with positive sentiment.
As of the afternoon of July 17 (EST), most major coins have recorded double-digit gains over the past 7 days, reflecting widespread bullish sentiment and the possibility of entering a new growth cycle.
Strong Liquidation Wave Due to Short Positions Being “Surrounded”
XRP’s sudden price increase has also triggered a large wave of liquidations in the derivatives market. Within an hour, a total of about $6.93 million in positions were liquidated, of which more than 99% were short orders. This shows that many traders had bet on XRP’s bearish trend but were caught up in the strong rally.
Notably, XRP recorded a larger liquidation volume than both Bitcoin and Ethereum in the same one-hour time frame, with a value of $6.17 million. 24-hour data shows that Ethereum still leads in total liquidations with around $168.21 million, followed by Bitcoin with over $61.57 million. XRP ranks third with total liquidations of $47.68 million, including $32.33 million in short positions and $15.35 million in long positions.
The liquidation ratios of XRP and ETH clearly show the market trend of betting on the downside. For ETH, short liquidations accounted for over 56% of the total value, while XRP saw nearly 68% of its liquidations come from short positions. In contrast, for Bitcoin, the ratio of buys to sells is quite balanced, indicating a more cautious bet from traders.
Signals of Rebirth and a Positive Future
XRP’s strong comeback is not just a short-term rally but also reflects a fundamental shift in confidence in the long-term potential of this asset. After years of being affected by legal disputes and losing competitive advantage, XRP is showing its resilience and maintaining its leading position in the cryptocurrency market.
In addition to the general market momentum, XRP's growth is also supported by expectations of legal clarity in the US, as well as efforts to expand cross-border cooperation by Ripple, the organization behind XRP. Reclaiming the old peak is a testament to XRP's stability and growing influence at a time when altcoins are on the rise again.
In the coming time, if the upward momentum continues to be maintained, XRP can completely break the historical mark and open a new bull cycle, attracting more cash flow from both individual and institutional investors.