XRP has surged about 20% in the last 24 hours, outperforming major cryptocurrencies like Bitcoin and Ethereum following a broad market downturn. The token hit its lowest point since 2024 on Thursday but showed signs of recovery amid heightened network activity. Analysts point to amplified market movements and institutional interest as key factors.
XRP experienced a sharp decline on Thursday, reaching its lowest price since the start of 2024 amid a wider cryptocurrency market downturn. By Friday, however, it led the recovery with a roughly 20% increase over the past 24 hours, according to data from CoinGecko. In comparison, Bitcoin rose 6.5%, Ethereum gained 5.2%, Dogecoin climbed 8%, and Solana advanced 5% in the same period.
Kaiko research analyst Thomas Probst explained this volatility, stating, “XRP’s price tends to amplify market movements.” He added, “Markets are experiencing a phase of liquidity contraction with increasing volatility. Therefore, rebounds can be frequent, even if they are rarely sustained over the long term.”
Contributing to the bounce, the XRP Ledger recorded significant activity during the dip. Crypto analytics firm Santiment reported a four-month high in whale transactions exceeding $100,000 and a six-month peak in unique addresses within an eight-hour period. “These are both major signals of a price reversal for any asset,” Santiment noted.
Ripple, the company associated with XRP and its largest holder, emphasized the token's role in institutional applications. In a Thursday blog post, it described XRP as “at the heart of every institutional use case,” including stablecoin payments, tokenized collateral, and lending markets. The firm also unveiled an updated roadmap for the XRP Ledger, featuring a lending protocol, confidential transfers via zero-knowledge proofs, and enhanced programmability for escrow functions to support composable financial ecosystems.
Additionally, spot XRP exchange-traded funds (ETFs) saw $5.9 million in inflows on Thursday, keeping the week's total inflows nearly at $24 million.
