XRP Tops Grayscale Weekly Snapshot with 9.7% One-Week Gain
XRP delivered a standout performance in Grayscale’s latest Crypto Snapshot, leading all non-stablecoin assets with a 9.7% one-week gain from July 31 to August 7. The token’s surge drove its year-to-date returns above 50% and highlighted its growing market momentum. During this period, XRP traded between $3.10 and $3.30, with the breakout to $3.30 coinciding with higher trading volumes and volatility. Two key catalysts fueled the rally: renewed optimism around the Ripple vs. SEC legal case and heightened institutional interest via Grayscale’s Digital Large Cap Fund (GDLC). While weekly rankings reflect short-term momentum, traders should watch for sustained volume and legal clarity to confirm a lasting trend. XRP’s top spot in Grayscale’s snapshot underscores its appeal to both retail and institutional investors.
Bullish
XRP’s top ranking in Grayscale’s weekly snapshot signals strong bullish momentum. A 9.7% one-week gain demonstrates renewed trader confidence, driven by potential legal clarity in the Ripple vs. SEC case and institutional flows via GDLC. Similar historical rallies—like those following positive legal rulings—have led to sustained short-term breakouts. In the near term, elevated volumes and volatility may fuel further upside. Medium to long-term gains will depend on continued legal progress, ETF approval rumors and broader market conditions. Overall, the news supports a bullish outlook as it underscores both retail enthusiasm and institutional validation.