Recent diplomatic developments between the United States and China have fueled optimism within the cryptocurrency market, leading to increased volatility for altcoins. Notably, Bitcoin’s recent rebound has further energized this dynamic, with XRP experiencing a significant price surge. Experts attribute this rise to factors such as expanding decentralized finance (DeFi) applications and growing institutional investments. The current upward movement of XRP is particularly striking given its 28% jump, reaching $2.12 following Bitcoin’s ascent towards the $85,000 mark. This surge has captured significant attention within the investment community, with daily trading volume exceeding $3.8 billion and a market capitalization hovering around $211 billion. What is driving XRP’s surge? The futures market reflects growing confidence in long positions for XRP, as Open Interest surged from $2.87 billion to $3.41 billion. Technical analysis also suggests that XRP has surpassed its previous all-time high of $1.90, indicating the potential for a further bullish trend. How are Institutional Developments Impacting XRP? Beyond technical indicators, the resolution of the SEC lawsuit against Ripple has significantly bolstered investor confidence. This landmark victory has fueled renewed interest in Ripple’s payment solutions and facilitated greater institutional adoption. A recent $1.25 billion deal between Ripple Labs and prime broker Hidden Road is poised to further expand this footprint. The submission of applications for XRP-based spot ETFs also showcases the continued interest from institutional investors. Overall, a combination of technical factors and solid fundamental developments suggests that XRP may continue its upward trajectory, attracting both retail and institutional interest in the coming weeks.**