XRP surges more than 15% over 24 hours, trading near $1.15 and briefly touching $1.16, joining a broader crypto rally that also carries Bitcoin above $72,000.
The move follows months of unusually large orders moving through XRP markets without producing much visible impact on the token’s price during that stretch.
New ledger data now shows roughly 23% of all XRP changing hands on the XRP Ledger occurs within a specific three-hour trading window each day.
That window spans the London afternoon and New York morning, the only stretch when both major financial centers operate simultaneously with full liquidity overlap.
A year ago, that same three-hour period accounted for only about 14% of daily XRP activity, according to data reviewed by treasury firm Evernorth.
Since the window represents just 12.5% of a full trading day, activity inside it now runs at nearly twice the rate expected from evenly spread trading.
The pattern shows up consistently across all three major ways XRP moves through the ledger, including its order book, its automated market maker pools, and cross-currency payment routing.
Every hour within the London-New York overlap now carries roughly twice the transaction volume of an average hour outside that window, ledger data confirms.
Evernorth frames the shift as consistent with growing institutional participation in XRP markets, though the firm maintains a direct financial interest in that narrative.
The company runs an active XRP treasury strategy backed by Ripple and other investors, with filings describing plans for over $1 billion in gross proceeds and a Nasdaq listing.
Public blockchain records reveal transaction timing, size, and routing details clearly, but they generally stop short of identifying which specific participants sit behind each trade.
Earlier this month, a separate report found that average XRP spot order sizes stayed within whale-level territory throughout the token’s slide from around $2.40 in January.
That earlier pattern suggested large holders were absorbing supply during the decline rather than triggering an immediate breakout, setting up the conditions for the current rally.
Retail traders and automated strategies remain fully capable of producing the same activity pattern, since crypto markets trade continuously and never formally close.
The overlap window also coincides with the heaviest period for breaking crypto News and the busiest hours for U.S. exchange retail volume, complicating any single explanation.
