XRP’s market capitalization climbed to nearly $193.10 billion on Thursday, positioning the digital asset on the verge of surpassing the $200 billion threshold for the first time. This surge has occurred alongside a notable increase in its price relative to Bitcoin, rising approximately 35% year-to-date in July.

The gains accompany a broader trend in the cryptocurrency market, where leading altcoins are posting strength against Bitcoin. Ethereum has similarly climbed over 25% against BTC, contributing to an ongoing narrative of “altseason”—a phase often characterized by traders shifting capital from established assets like Bitcoin to higher-returning altcoins.

XRP’s Record Surge

Over the past 30 days alone, XRP’s market cap has surged 71.75%, though it remains about $2.18 billion shy of the record high set six months ago. Recent price action suggests whale activity and technical support are underpinning the move, raising the possibility the asset could reach $4 in the coming weeks.

XRP has broken out of a multi-month descending triangle pattern, with increasing trading volumes reinforcing the bullish momentum. This move mirrors previous performance late last year, where XRP reached a market cap high of roughly $195 billion at the beginning of 2025.

Technical Targets

Analysts posit further gains could extend XRP’s market cap toward $212 billion by month’s end, if prevailing momentum holds. Successfully breaching that mark may open the door to a Fibonacci extension target around $258 billion—nearly 33% higher than current levels—by year-end.

Elsewhere, short-term technical indicators carry similarities to late 2024, with the asset briefly entering overbought territory before holding firm. A support structure continues to form based on current momentum and volume analysis.

The broader market displays a similar shift toward altcoins, with top-cap assets like Bitcoin, Ethereum, and XRP collectively rising more than 8% within the past 24 hours, signaling a noteworthy capital rotation.