XRP Surges 8% on Volume Spike and Scarcity Index High

XRP has seen a significant rebound over the past week, surging nearly 8% from its low of $1.03 to trade above $1.15.

This recovery is attributed to a substantial spike in trading volume, which has increased by 62% to $1.8 billion.

Despite a decline in spot ETF inflows in June, blockchain data indicates increased activity with the XRP Binance Scarcity Index reaching a two-year high.

Binance has also reduced its XRP holdings by 20% since November 2024.