XRP Hits $1.50 on Confluence of Positive News for Ripple
Ripple (XRP) price hit $1.50 following an 11% gain in 24 hours, significantly outperforming a flat Bitcoin price, driven primarily by positive ecosystem developments and aggressive whale accumulation.
A confluence of positive news, including Ripple’s support for a key XRP Ledger upgrade and a $275 million debt raise for its institutional arm, Ripple Prime.
The rally was catalysed by two specific events. First, Ripple voted in favour of the Permission Delegation amendment for the XRPL v3.3.0 upgrade, a feature critical for regulated institutions.
Second, Ripple Prime closed an upsized $275 million senior-notes offering, providing fresh capital for its institutional brokerage business.
These developments signal growing enterprise utility and financial strength. What it means: The move is fueled by fundamentals, not just speculation, as the network upgrades to attract serious institutional use.
On-chain data reveals aggressive buying. Analyst Ali Martinez cited Santiment data showing whales accumulated over 300 million XRP in 96 hours as the price rose.
This was accompanied by $13.24 million in net inflows to U.S. spot XRP ETFs on August 20. This suggests large, confident buyers are providing strong underlying demand, supporting the price breakout.
Technically, XRP is in a strong uptrend, trading well above its key moving averages. The immediate Fibonacci support is at $1.36 (23.6% retracement), with the next key extension target at $1.60.
The upcoming U.S. Senate cloture vote on the CLARITY Act on September 15 is a major regulatory catalyst that could impact sentiment.
The bullish structure is intact but overbought in the short term, suggesting potential for consolidation. A daily close below $1.36 would signal a deeper pullback toward the $1.23–$1.28 support zone.
The 24-hour surge is a direct reaction to tangible progress in XRP’s institutional roadmap, amplified by heavy accumulation from large holders. While overbought conditions invite near-term volatility, the fundamental drivers are solid.
Elsewhere, Ripple’s NYDFS-regulated stablecoin, RLUSD, surpassed a $2 billion market capitalisation, described as the fastest-growing regulated stablecoin.
Nearly $1 billion of it circulates on the XRP Ledger, providing deep dollar-denominated liquidity for payments, DeFi, and collateral.
What this means: This is bullish for XRP utility. RLUSD’s growth creates a robust dollar corridor on XRPL, enabling new use cases like borrowing against XRP without selling it.
Enhanced stablecoin liquidity makes the entire XRPL ecosystem more attractive for institutional and decentralised finance. Bitcoin Tops $77k as Morgan Stanley Boosts Holdings
