XRP hit $3.40 with a 10% daily and 35% weekly price surge

XRP has officially smashed through its old ceiling. On Thursday, it hit $3.40, matching its all-time high from 2018, with a 10% price jump in just 24 hours and a 35% rally across the week.

The market cap surged to $192,321,496,870, making XRP one of the most explosive tokens in a week filled with aggressive bets and growing institutional interest.

One of those players is a whale who opened a $15 million long position on Hyperliquid, showing clear belief in more upside. That wasn’t an isolated bet either.

Trading data shows that XRP now holds the highest long-short ratio among major cryptocurrencies, meaning traders are loading up on bullish positions far more than shorts. That kind of imbalance, though, can cut both ways. While it shows widespread confidence, it also hints at excessive leverage that could trigger a sudden pullback if sentiment turns.

Carlos Guzman, an analyst at GSR, told DL News that “XRP tends to perform quite well when crypto as a whole rallies.” That trend has held up this week as XRP caught wind from broader market momentum. But this isn’t just another round of retail pump-and-dump. The demand is looking a lot more structural this time.

Companies and ETF managers pour in as XRP trades near record

Institutional demand is one of the main drivers behind XRP’s current push. Companies like VivoPower and Webus have now adopted XRP as a treasury reserve asset, proving real corporate balance sheet use, not just speculation.

VivoPower is a clean energy firm, while Webus runs a ride-hailing app. Both firms have quietly added XRP to their reserves, betting on the token’s stability and future growth.

On the investment side, Teucrium’s leveraged XRP ETF has pulled in more assets than all of its agricultural offerings combined. The ETF’s share price doubled in July, jumping from $24 to $48.20, which is a 50% gain within just a few weeks. The scale of that inflow shows how deep institutional interest has become.

And the wave isn’t slowing down. ProShares is launching three XRP funds this week, each focused on derivatives or futures. These vehicles will give investors tools to bet on XRP’s movement without directly holding the crypto. That includes traders who want more flexible exposure or simply want to take a position in ways that aren’t possible through direct buying.

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