XRP’s Meteoric Rise: Metrics Soar, Wallets Tremble!

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XRP price has embarked upon a veritable tempest of bullishness this month, and its top metrics, coupled with a rare pattern, suggest further gains. 🚀

Ripple (XRP) token soared to a dizzying height of $3.6510, up by over 125% from its lowest point in April. This surge has vaulted its market capitalization past the $207 billion mark, a figure that would make even the most stoic of investors gasp in astonishment. 💰

XRP price could continue rising as some of its network metrics surged to a record high. CoinGlass data reveals that the token’s futures open interest has ascended to an all-time high of $10.6 billion, up from last month’s low of $3.7 billion. A testament to the fervor of traders who seem to have taken up residence on exchanges like Bitget, Gate, Binance, Bybit, and CME. 📈

The number of futures traded on exchanges like Binance and Bybit jumped to 5.65 million and 1.85 million, respectively. One might say the exchanges are more crowded than a London Underground during rush hour. 🚇

The XRP price is also benefiting as the market capitalization of Ripple USD (RLUSD) leapt to a record high of $532 million. This is a notable development, as the stablecoin was launched in December and is slowly approaching the PayPal USD (PYUSD) valuation of $847 million. A race as thrilling as a duel between two rival dukes. 🏁

Further data shows that the XRP Ledger’s total value locked has surged by 70% in the last 30 days, reaching a record high of $93 million. Its stablecoin supply has also soared to over $93.2 million, a figure that would make even the most jaded of observers raise an eyebrow. 👀

The total assets in the Teucrium 2X Long Daily XRP ETF have also reached a record high of $506.6 million, indicating strong demand. One might say that investors are as eager as a dog at the prospect of a walk. 🐾

XRP price technical analysis

The daily chart reveals that XRP has been in a state of relentless bullishness since bottoming at $0.4860 in November last year. It has remained above the 50-day and 100-day Exponential Moving Averages, as well as the major support/resistance level of the Murrey Math Lines. A feat as impressive as a well-timed triple entendre. 🎩

XRP has vaulted above the key resistance level at $3.40, the highest point in January and the upper side of the cup-and-handle pattern. This cup has a depth of about 55%. Measuring this distance from the cup’s upper side gives a target of $5.27. A target so lofty it might require a ladder, a parachute, and a prayer. 🧗‍♂️

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2025-07-22 17:29