XRP's price is surging today despite a recent decline in the past week, with a market capitalization of $118.7 billion and a trading volume of $9.15 billion.
The recent price movement led to significant liquidations in the derivatives market, totaling $26.68 million in the past 24 hours, with an 8,900% liquidation imbalance occurring within a single hour.
The surge in XRP's price can be attributed to three key reasons: President Trump's announcement of a tariff pause, the introduction of the XXRP ETF on NYSE Arca, and Ripple Labs' acquisition of Hidden Road.
Despite the positive developments, caution remains due to potential bearish trends and the influence of ongoing trade policies on XRP's price trajectory.