Share this article
XRP’s 60% Weekly Gain Defies Broader Crypto Slump as Bitcoin Stalls Below $30K
Crypto index funds potentially adding XRP to their holdings could mean additional buying pressure for the token, one analyst said.
Updated Jul 18, 2023, 9:48 p.m. Published Jul 18, 2023, 9:48 p.m.
Ripple’s XRP outperformed most cryptocurrencies Tuesday as the initial market-wide rally following last Thursday’s lawsuit ruling has seemingly fizzled out.
The native token of the Ripple payment system was the best performer among the top 25 crypto assets over the last 24 hours, gaining 3.6%. XRP retook its place as the fourth largest digital asset by market value, toppling the embattled exchange giant Binance’s BNB token.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Bitcoin (BTC) and ether (ETH), the two largest crypto assets by market capitalization, are now each lower than their levels from last Thursday, both stuck below their psychologically important price levels at $30,000 and $1,900.
Read more: Are Bitcoin Miner Sales Preventing Breakout to Higher Prices?
“The Ripple vs. SEC lawsuit did not generate a broader lasting rally in crypto,” David Lawant, head of research at institutional crypto exchange FalconX.
Though it’s given back some of last Thursday's gains, XRP was still up roughly 60% since the ruling. The CoinDesk Crypto Market Index (CMI), which tracks the performance of the broader digital asset market, meanwhile, gave up all of its Thursday advance, declining 0.5% over the same period.
Top altcoins such as Polygon’s MATIC, Solana’s SOL and Cardano’s ADA, which enjoyed sizable rallies last Thursday, completely reversed to the levels where they traded prior to the XRP ruling. MATIC and SOL are now down 5% over the week, while ADA dropped 2%.
While the rush to purchase XRP could well be mostly behind us, Lawant said, digital asset funds adding the token to their holdings could represent some buying pressure boosting its price.
“Index funds are one potential source of additional institutional flow I’m still watching,” he said.
“XRP has a market capitalization of more than 3.5x of ADA and SOL, typically the largest constituents outside of BTC and ETH, with a weight of little over 1%,” said Lawant. “If XRP is included in the underlying indexes, the asset could represent 4-5% of the composition of the top broad crypto indexes.”
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
What to know:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
Top Stories
