What Factors Are Contributing to Today’s Increase in the Crypto Market? XRP Price Reaches $3, ETH Surges
The crypto market is seeing strong upward movement today
The crypto market is seeing strong upward movement today, with prices climbing across major coins. In the past 24 hours, the total market capitalization has grown to around $3.83 trillion, rising by 2.75 percent. Ethereum is also making headlines, jumping nearly 6 percent in one day. It’s now trading at $3,821 with a market cap of $461 billion. Experts are now looking for a possible break above $4,000, which could lead to a push toward $4,400 or higher.
Ripple’s Acquisition of Rail
One of the biggest headlines of the day comes from Ripple. Ripple has agreed to acquire stablecoin platform Rail in a deal worth $200 million. The move is seen as part of Ripple’s wider push into the stablecoin market and payments infrastructure. Following the news, XRP has jumped over 3 percent in 24 hours and is now trading at $3.04.
No such thing as the August doldrums at @Ripple…very excited to share that we’re acquiring @RailFinancial!
Ripple + Rail together will be THE go-to provider of stablecoin payments infrastructure for global financial institutions around the world. @bgarlinghouse August 7, 2025
Some analysts say this could push XRP even higher, especially if the acquisition leads to new partnerships or regulatory clarity.
Bitcoin and Altcoin Performance
Bitcoin is currently trading at $116,474, up nearly 2 percent. Though its pace is slower compared to altcoins, Bitcoin remains strong with a market cap of over $2.3 trillion. A clean break above $120,000 could attract fresh buying interest.
Across the market, other top altcoins are also starting to rise. Solana has climbed to $170, Dogecoin is now above $0.21, and Cardano is trading at $0.76. Sui has surged to $3.72, and Chainlink is sitting at $17.62 with a strong 7 percent gain today.
Market Sentiment
The Fear and Greed Index is at 54, showing a neutral sentiment. However, the rising interest in altcoins is pushing the Altcoin Season Index up to 36, hinting that more traders are exploring tokens beyond Bitcoin.