XRP experienced a significant influx of over $6.7 billion in market value overnight, boosting its price from $2.78 to $2.88. This surge increased XRP's market capitalization from $165.99 billion to $172.72 billion. Trading volume also saw a notable rise, climbing by 39.27% to exceed $4 billion, with $3.76 million in short positions liquidated. The cryptocurrency successfully moved above the 200-day EMA and surpassed the $2.83 pivot point, indicating a bullish shift in the short-term market structure. Traders are now focusing on the $2.94 Fibonacci retracement level as the next potential target for XRP.