Ripple's XRP token registered a 10% gain, advancing from a 24-hour low of $0.9956 to reach an intraday peak of $1.10. The advance broke a tight trading range that had held near the $1 mark for most of August. Against Bitcoin, XRP recorded a 3.1% increase, demonstrating outperformance relative to the broader digital asset market.
On-chain metrics showed increased activity prior to the price movement. Large-holder transactions spiked 280% on August 18, with more than 38 individual transactions exceeding $1 million each. Additionally, Santiment data indicated that daily active addresses expanded from an average of about 26,400 in July to approximately 35,700 in August, reaching 49,929 active addresses on August 13.
Derivatives markets experienced high volumes during the session, with XRP futures volume reaching $2.92 billion—approximately six times the monitored spot trading volume of $505.8 million. Total open interest stood at $2.81 billion, while forced liquidations totaled $9.13 million over a 24-hour period.
Institutional interest also grew, as United States-based exchange-traded funds accumulated nearly 1 billion XRP tokens, reaching a total of 994.72 million. Bitwise led trading activity among these funds with $18.55 million, followed by Franklin Templeton at $4.80 million. Concurrently, Ripple Prime secured $275 million via a private placement offering of senior unsecured notes and announced a partnership with Jeonbuk Bank for international money transfers.
Macroeconomic conditions contributed to the broader digital asset movement as well. The U.S. Treasury Department announced an expansion of its liquidity-support buyback program from $2 billion to $4 billion, compressing Treasury yields, weighing on the dollar, and supporting a wider cryptocurrency market rally.
As of Thursday, XRP traded near $1.0951, holding above its 50-day exponential moving average at $1.0764. Technical indicators showed a bullish MACD crossover and an RSI reading near 59, with the 100-day exponential moving average at $1.1539 serving as a subsequent technical milestone.
