XRP gained 43.7% in the seven days to August 26, posting the strongest performance in the top 10 by market cap. This rally was driven by three distinct demand channels: US spot XRP ETFs, South Korean spot trading on Upbit accounting for 16.3% of won-denominated volume, and sustained long positions from the largest accounts on Binance. US spot XRP ETFs recorded six consecutive positive sessions from August 18 to 25, with total net assets climbing from $941.41 million to $1.46 billion. However, this momentum remains reversible, as the market has not exited Bitcoin season (BTC dominance at 59.3%) and the Altcoin Season Index stood at only 40 out of 100.
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