XRP has experienced a sharp rally, reaching a trading price of around $2.15 as of mid-2025, tripling in value since October 2024 and delivering over 300% returns to early investors. This price surge is attributed mainly to Ripple's significant legal progress reducing regulatory uncertainty and the filing of spot exchange-traded fund (ETF) applications by major financial firms such as WisdomTree and Bitwise.
According to Glassnode data, daily profit realization by early XRP holders reached $68.8 million, indicating considerable profit-taking activity. Large wallets have been transferring substantial amounts of XRP to exchanges near resistance levels between $2.30 and $2.40, suggesting calculated distribution of tokens by whales. Despite increased selling pressure causing XRP’s price action to narrow into a tight consolidation range, the token continues to hold above the $2 mark, signifying sustained demand and resilience.
Retail participation has surged, with daily active XRP addresses increasing nearly 490% compared to previous cycle lows, and XRP processing nearly one million payments daily, highlighting robust utility. The realized market capitalization rose from $30 billion to $64 billion during this period. While the altcoin market broadly faces selling pressure and weak confidence—characterized as an altcoin winter—XRP continues to show strength in network metrics.
Recent ETF launches by Canadian asset managers 3iQ, Purpose, and Evolve on Canadian exchanges reflect growing institutional interest, while the US market awaits the Securities and Exchange Commission (SEC) decision on XRP ETF applications, expected by October 2025. Market sentiment is cautiously optimistic, with an 89% probability modeled by Polymarket for US XRP ETF approval by the end of 2025, although short-term upside remains limited by ongoing profit-taking among early investors.