XRP Spikes 39% in a Week to Rank Among Top Crypto Gainers, Reclaiming 3-Month Peak Above $1.40

XRP has surged 39% over the past seven days, securing a spot among the top five gainers in the cryptocurrency market as its price reclaims a three-month peak above $1.40.

The broader crypto market has maintained the recovery push that began at the start of this week, and XRP appears to be taking advantage of the rally more than most assets. For context, the global crypto market capitalization (TOTAL) has added $440 billion since Monday, Aug. 17.

Amid the upsurge, XRP delivered its best performance of the year so far, with its market cap jumping by nearly $24 billion to $86.82 billion in just three days. This comes as the token's price rallies by more than 33% on the weekly timeframe. That valuation keeps XRP among the largest cryptocurrencies by market capitalization, a segment of the market where weekly moves of this scale are less common than among smaller tokens. XRP is the native asset of the XRP Ledger, the payments-focused blockchain long associated with Ripple.

XRP Ranks Among the Top 5 Gainers

Notably, this performance places XRP among the top five gainers of the past week, according to data provided by CoinMarketCap. Ethena (ENA) tops this exclusive list with gains of nearly 64% on the weekly timeframe.

Meanwhile, SPX6900 (SPX) sits second on the list, with weekly gains exceeding 41%. The third position is secured by XRP, which has recorded a 39.70% rise over the past week. Pump.fun (PUMP), the native token of the DeFi project of the same name, follows closely with a 37% increase. The other tokens named on the list, Ethena, SPX6900 and Pump.fun, each carry market caps far smaller than XRP's $86.82 billion, which makes XRP the clear large-cap standout of the group.

Interestingly, on the daily timeframe, XRP also ranks among the top five gainers, securing third place after rising 20.49%. Further data from CoinMarketCap confirms that XRP remains the largest gainer on both the daily and weekly timeframes among the top 50 tokens. Tracking whether XRP holds its top-five standing on both timeframes offers a simple gauge of how its momentum stacks up against the wider market.

XRP Reclaims a 3-Month Peak of $1.40

The rally has since helped XRP reclaim the $1.40 level for the first time in three months. The asset last traded in this price region in mid-May, when its price collapsed from a $1.54 peak and slipped into a free-fall phase toward the $1.05 low in early June.

With the price currently trading at $1.41, XRP has also reclaimed its 20-week exponential moving average (EMA), one of two key moving averages that could dictate the token's next price direction from here. Exponential moving averages give greater weight to recent price action and are among the most widely followed trend indicators in technical analysis, which is why moves above or below them are often read as momentum signals.

A previous report from The Crypto Basic identified the 20-week EMA and the 50-week EMA as the two important moving averages that XRP must breach to flip its momentum bullish. XRP has now recovered above the 20-week EMA, with its eyes set on the 50-week moving average at $1.5417.

At the current price of $1.4140, XRP needs only an additional 9% rally to breach the 50-week EMA. However, on the daily chart, the asset could face strict resistance at the Pivot Point's R3 area, which stands around $1.4895, on the way to the 50-week EMA. Notably, the R3 resistance and the 50-week EMA sit only about 3.5% apart, concentrating the next major test of the rally within the narrow zone between roughly $1.49 and $1.54.

XRP's daily relative strength index (RSI) has spiked to 84. While this shows that bulls have reclaimed control of the market in the short term, it also indicates that the rally could be getting overstretched. For readers new to the indicator, the RSI measures the speed and size of price changes on a 0-to-100 scale, with readings above 70 conventionally treated as overbought, a threshold XRP has now cleared by a wide margin.

If XRP faces exhaustion and a pullback from here, it could attempt to find immediate support around the R3 mark at $1.39. For now, the levels flagged in the analysis, support near $1.39, resistance near $1.4895 and the 50-week EMA at $1.5417, form the reference points market watchers will track from here.