XRP climbed 15.04% to reach $1.16 over a 24-hour period, accompanied by a 392.81% jump in trading volume to $4.22 billion. The upward movement occurred as cryptocurrency markets experienced a regulatory-driven recovery, coinciding with Bitcoin rebounding to over $71,000.
The broader market gains followed a White House crypto summit on August 19, where President Donald Trump urged Congress to pass the CLARITY Act and mentioned potential U.S. purchases of Bitcoin and other cryptocurrencies. Ripple CEO Brad Garlinghouse attended the meeting. A Senate vote is scheduled for September 15. Additionally, a Treasury decision to increase long-term bond buybacks and lower yields helped stimulate investment in risk assets.
Alongside XRP, other major digital assets registered notable gains. Bitcoin rose 11% to touch $71,500, Ethereum reclaimed $2,300, and Solana, Dogecoin, Hyperliquid, Cardano, Zcash, and Tron also advanced. The total cryptocurrency market capitalization reached $2.44 trillion, representing a 10.94% increase.
On-chain and fund data showed increased activity surrounding XRP. Major investors, or whales, acquired over 300 million XRP tokens within a 96-hour period as the asset reclaimed the $1.00 support level. Furthermore, XRP exchange-traded funds recorded net inflows of $2.35 million on August 19, with total ETF trading value reaching $31.66 million and net assets totaling $1.01 billion.
Technical indicators showed the Relative Strength Index at 84.15, pointing to an overbought condition, while the Chaikin Money Flow registered at 0.37. Analysts noted that sustained trading above key support levels near $1.10 to $1.15 remains important for maintaining the asset's current price structure, with resistance levels monitored around $1.20 and higher.
