Ripple's XRP surged past $3.30, peaking at $3.34 on July 17, 2025 – putting it less than 2% away from its January 2018 all-time high of $3.40. The altcoin has rallied approximately 50% in the past week and 75% since late June when it bottomed at $1.90, breaking out of a prolonged consolidation phase.
This volatile upswing triggered over $44.32 million in liquidations within 24 hours, with short positions dominating at $29 million. Concurrently, daily trading volume spiked 120% to $12 billion, while XRP's market capitalization surged to $192 billion, nearing the $200 billion milestone. Analysts attribute the momentum to regulatory shifts in the U.S., macroeconomic tailwinds for risk assets, and anticipation of potential spot XRP ETF approvals by the SEC.
Despite the bullish sentiment, ChatGPT previously cautioned that the $3.40 resistance could prove challenging, citing historical price behavior. The rally coincides with Ethereum hitting $3,500 and Bitcoin stabilizing near $123,000, suggesting broader altcoin strength.