Monster $12 billion flows into XRP in less than a day

XRP price posted a sharp and technically significant recovery on June 23, climbing from an intraday low of $1.96 to a session high of $2.24, before settling around $2.17 at the time of writing on June 24. The token’s recovery corresponds to a 7.27% gain on the day, and more critically, a 10.5% increase in market capitalization, rising from $115.99 billion to $128.18 billion, with intraday peaks brushing against $129.80 billion.

XRP 1-day market cap.

Source: CoinMarketCap Notably, this sharp inflow of capital, roughly $12.19 billion, comes despite a modest pullback in 24-hour spot volume, which decreased by 2.64% to $4.98 billion, indicating that the rally may have been driven more by aggressive bidding across thin liquidity rather than broad-based accumulation.

The volume-to-market cap ratio now sits at 3.87%, which is relatively low given the magnitude of price movement, suggesting the potential presence of large order book imbalances or algorithmic flows exploiting volatility.

XRP technical structure From a structural standpoint, XRP decisively reclaimed the $2 psychological and technical threshold, which had acted as a key resistance zone in recent days.

The token also broke above its 20-period EMA on the 4-hour chart, with RSI pushing beyond 60 but not yet entering overbought territory, providing technical validation for further upside without immediate exhaustion risk.

XRP 1-day price chart.

Source: Finbold On the daily chart, price is attempting to reclaim the upper bound of the rising channel formed since mid-May.

The Fib retracement drawn from the May high to the June low places the 61.8% level near $2.20, which was tested and briefly exceeded during the session.

A sustained break and close above this level would open up upside toward the next confluence zone at $2.42, which corresponds to both horizontal resistance and the upper Bollinger Band on the daily timeframe.

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