In a rare weekend cryptocurrency market rally on May 10, XRP broke above $1.50 for the first time in nearly two months, while Bitcoin briefly reclaimed the $82,000 level. According to Bitstamp data, XRP nearly touched $1.51, outperforming most high-cap altcoins, which were mostly flat or posted negative gains during the same period. Although XRP later retreated to $1.45 as of 4 a.m. EST, it was still up approximately 2% over 24 hours, well ahead of the broader crypto market, which rose just 0.1%. The rally briefly pushed XRP’s market capitalization above $92.6 billion before it settled back to just under $90 billion at the time of writing.
ETF Inflows and Exchange Withdrawals Amplify Momentum
The digital asset’s surge followed a week in which spot XRP exchange-traded funds (ETFs) recorded $34.21 million in net inflows, according to Sosovalue data. The latest inflows brought the total net asset value of XRP ETFs to $1.12 billion, with a net asset ratio of 1.26%. Additionally, the withdrawal of $115 million worth of XRP from exchanges over the weekend helped sustain the rally. Pro-XRP accounts on social media highlighted a recent near-real-time cross-border redemption of tokenized U.S. Treasuries via the XRP Ledger as a key development. As reported by Bitcoin.com News, the test transaction — conducted in collaboration with J.P. Morgan’s Kinexys, Mastercard and Ripple — is viewed as an important milestone and validation of the XRP Ledger’s utility for institutional-grade settlements.
Real-World Assets and Stablecoin Activity Surge on XRPL
In addition to the high-profile institutional collaboration, the XRP Ledger has recorded a notable increase in real-world assets (RWA) and stablecoin activity. A May 10 post on X noted that tokenized assets on the ledger rose 45% over the past 30 days to approximately $3.03 billion, while stablecoin volumes climbed to $498 million. Ondo Finance also successfully piloted the first near-real-time, cross-border redemption of a tokenized U.S. Treasury fund using the XRP Ledger, with funds settling into a Singapore bank — further demonstrating the network’s real-world efficiency. Despite the recent price increase and growing utility narrative, XRP remains nearly $1 below its Jan. 6 peak of $2.40. Coingecko data also shows XRP is down more than 21% since the start of the year. Since early February, XRP has largely traded between $1.30 and $1.50.
Negative Funding Rates Signal Potential Upside, Analysts Say
Some analysts are highlighting XRP’s funding rates, which have remained negative since February 2026 — a scenario they say mirrors the contrarian setup that preceded the 2025 rally to $3.60. This persistent negative funding suggests that short sellers are paying to maintain positions, often a precursor to a short squeeze and upward price movement. The combination of institutional adoption, growing on-chain activity, and technical signals has led several observers to anticipate a breakout if Bitcoin maintains its upward trajectory. With XRP’s market cap now solidly above $90 billion, and the token’s utility narrative strengthening through real-world tests, the coming weeks could prove pivotal for the second-largest cryptocurrency by market cap outside of Bitcoin and Ethereum.