XRP Market Cap Tops $100 Billion as ETF Inflows and Whale Activity Rise
XRP briefly pushed its market capitalization above $100 billion as the token gained more than 8%, supported by increased activity in U.S. spot XRP exchange-traded funds (ETFs) and larger transactions on the XRP Ledger.
According to CoinGecko data cited in the report, XRP approached $1.65 during the rally and closed September 22 at about $1.57, compared with roughly $1.53 a day earlier.
The move briefly returned XRP to a market value above $100 billion. CoinGecko's September 23 reading put the token's market capitalization above $101 billion, highlighting how quickly the valuation can change as the price moves.
XRP did not maintain the $100 billion threshold consistently, however. The recovery therefore marked a notable move in valuation but did not establish a sustained position above that level.
XRP Tests $1.65 Resistance as Market Cap Rebounds
The rally carried XRP beyond the $1.50 and $1.60 levels before the token approached the $1.65 area, which emerged as the next significant resistance level cited in the report.
A move into resistance does not by itself confirm a breakout. XRP also remained more than 55% below the record high referenced in the supplied market data, despite the recovery in both price and market capitalization.
The price action illustrates the relationship between XRP's market value and relatively small changes in its market price. As XRP moved higher, its capitalization temporarily crossed the $100 billion mark before retreating from the threshold.
For the valuation to remain above that level, XRP would need to sustain the gains that brought it toward the $1.65 resistance area.
XRP ETF Inflows Reach $13.03 Million
Demand through U.S. spot XRP ETFs also increased during the rally. CoinGlass data cited in the report showed $13.03 million in net inflows on September 22, compared with zero net inflows during the previous session.
The latest inflows brought cumulative net inflows to approximately $936.66 million. The figure provided another indication of demand during the same period that XRP's price and market capitalization moved higher.
The daily inflows were heavily concentrated, however. One fund accounted for approximately $12.47 million, or nearly 96% of the combined daily net inflow.
That concentration means the aggregate figure does not necessarily represent evenly distributed demand across all XRP ETFs.
Large XRP Ledger Transactions Increase
Activity among larger XRP holders also accelerated during the period.
Santiment recorded 1,917 XRP Ledger transactions valued at at least $100,000 on September 22, the highest number of such transactions in one month, according to the report.
The analytics firm also recorded 3,647 newly created wallets on the same day, pointing to increased network activity as XRP's price advanced.
The transaction data does not establish whether the large transfers represented buying or selling. It does, however, indicate that substantial XRP transactions increased during the rally.
XRP's brief return above a $100 billion market capitalization therefore occurred alongside higher ETF inflows and increased activity involving large transactions on the XRP Ledger. The $1.65 area remains a key price level in the supplied market report, while the token's ability to sustain its valuation above $100 billion remains unresolved.
Writer: Marcus RenfieldCrypto Market Analyst & Onchain WriterMarcus Renfield covers cryptocurrency markets with a focus on onchain data, Bitcoin price action, and emerging market narratives. His writing examines how capital flows, network activity, and broader market structure influence short- and medium-term trends.He aims to provide clear, data-informed analysis for readers seeking a deeper understanding of crypto market dynamics.