XRP jumped about 13 percent and briefly reclaimed the $1.28 level. The market is watching factors behind the rebound.

Blockchain media outlet The Crypto Basic reported on June 16 that on-chain analytics firm Santiment cited improved market sentiment and continued accumulation by large holders as drivers of the rebound.

The rise coincided with a recovery in risk appetite after news that U.S.-Iran tensions had entered a phase of resolution. As the broader cryptocurrency market rebounded, XRP drew attention for rising after passing through a period of extremely strong bearish sentiment. Santiment said XRP slipped to as low as $1.05 recently, pushing investor sentiment to one of its weakest levels in 2026. It added that as market fear eased, conditions formed for a strong relief rally.

On-chain data showed accumulation by large wallets continuing alongside the price rebound. Santiment said wallets holding at least 1 million XRP now hold 45.98 billion tokens, or 74.1 percent of total circulating supply. It said these wallets also bought about 1.53 billion additional XRP over the past six months despite recent market weakness. Santiment said the trend suggests key investors are maintaining confidence in XRP's long-term outlook even during volatile periods.

Factors supporting longer-term expectations also included Ripple's expansion in institutional payments and growth in tokenisation on the XRP Ledger (XRPL). Ripple is pursuing strategic partnerships and infrastructure expansion to strengthen cross-border payments and enterprise blockchain adoption. It recently sought to acquire BC Payments Australia to secure an Australian Financial Services Licence (AFSL). Earlier this year, Ripple subsidiary GTreasury acquired Solvexia to strengthen operational and reporting capabilities.

The tokenisation market on the XRP Ledger is also growing. The value of tokenised assets represented on the XRPL reached $3.7 billion, and the network hosts 293 real-world asset (RWA) projects. Santiment said that as this expansion continues, market participants view XRP and the XRP Ledger as potential beneficiaries of a shift toward blockchain-based financial infrastructure.

XRP gave back some gains from its intraday high. It is trading around $1.23, down from the $1.28 recorded during the session. Even so, its 24-hour gain stands at 4.3 percent, while its rise over the past week is holding at about 5.79 percent. To hold on to the recent rebound, XRP needs support in the $1.20 range and confirmation of additional buying. If market anxiety rises again, XRP may also give back part of its gains along with a broader pullback in risk assets.

The market is focusing on the fact that XRP is holding most of its gains even after the short-term surge. The next point to watch is whether easing market anxiety, whale accumulation and expansion of the institutional payments ecosystem are supporting the price at the same time. Investors therefore need to track not only whether large holders keep accumulating, but also exchange inflows, derivatives positions and broader risk appetite across the cryptocurrency market.

XRP has staged an impressive comeback, surging +13% in just 24 hours and reclaiming the $1.28 level for the first time in two weeks. Like most altcoins today, $XRP traders have reacted positively to reports that the US-Iran conflict has reached a resolution, removing a major… pic.twitter.com/GrF5I4gWyU