XRP Soars 5.93% Amid ETF Inflows and Ripple Escrow Unlock, Market Cap Hits $120.87 Billion

XRPUSDT has recorded a 5.93% price increase over the past 24 hours, now trading at 1.9820 USDT on Binance. The price surge is attributed to continued institutional interest, evidenced by 30 consecutive days of net inflows into spot XRP ETFs and total holdings exceeding 756 million XRP. The recent routine unlocking of 1 billion XRP from Ripple’s escrow and strong trading activity, including a liquidation event with a 2,198% imbalance mostly impacting long positions, have contributed to notable market volatility. Additional factors include anticipation surrounding a potential Ripple IPO and positive sentiment from Ripple executives.

Market metrics reflect high activity, with a 24-hour spot volume on Binance at 106.66 million XRP (205.46 million USDT) and futures volume at 395.84 million XRP (750.41 million USDT). XRP’s market capitalization stands near $120.87 billion, ranking it fifth among cryptocurrencies, with circulating supply at 60.68 billion XRP. Recent price movements have been volatile, driven by both technical trading patterns and significant investor engagement.