Tomorrow, August 1, Ripple is expected to unlock 1 billion XRP tokens from its escrow account as part of its standard monthly release procedure.

XRP's network activity has significantly declined, with a sharp drop in active addresses, which hindered the token's rise toward the $4 mark.

XRP’s latest price surge has pushed its market capitalization to $215 billion — overtaking global giants like McDonald’s and American Express (NYSE: AXP). This followed a 500% rally since July last year, when XRP reached a new all-time high of $3.65.

With XRP reaching a new all-time high, it is projected that the crypto asset could climb to $8.50 in the coming months, driven by technical indicators.

Cryptocurrency

XRP’s price has reached a new all-time high this year, hitting $3.44, with its market capitalization climbing to $202 billion. The altcoin is now aiming for new heights.

XRP Price Today: XRP breaks above $3.00 as bulls continue the symmetrical triangle rally

The cryptocurrency XRP was trading at $2.6915 at 3:58 PM (12:58 GMT) on Friday, marking a 10.10% gain for the day. This was the sharpest daily increase for XRP since April 9.

Most altcoins jumped on Thursday amid optimism over Bitcoin’s new record high.

Macro investor and Real Vision CEO Raoul Pal believes that the current market structure under Donald Trump’s return to power closely resembles 2017 — a year that saw a massive altcoin boom, including XRP.