Core Insights - XRP has surged past Binance Coin (BNB) to become the third-largest cryptocurrency by market capitalization, reaching $2.63 with a market cap of approximately $158 billion, while BNB's market cap stands at $156 billion [1] - XRP experienced a +12.8% weekly rally, outpacing other top-five digital assets, raising discussions about a potential institutional cycle for XRP [2] - The surge in XRP's price is attributed to deeper market dynamics beyond mere rotation [3] Institutional Developments - Evernorth, a digital asset treasury initiative, aims to accumulate and deploy XRP at scale, funded partly by Ripple co-founder Chris Larsen [4] - Evernorth is preparing a $1 billion+ SPAC raise to establish an institutional-grade XRP reserve, focusing on liquidity provisioning, on-chain treasury management, and lending markets [5] - Ripple is expanding into enterprise payments, with RLUSD stablecoin growth nearing $1 billion in on-ledger assets, and the launch of Ripple Prime as a brokerage-style institutional access hub [5] ETF and Market Sentiment - The XRP ETF race is intensifying, with multiple firms submitting amended S-1 filings in response to SEC feedback, indicating regulatory alignment [6] - CME futures open interest has surged to $9.9 billion, while spot XRP ETFs have accumulated over $100 million in assets under management shortly after launch [6] - Retail trader sentiment remains historically low, with small wallets selling into the rally, creating a contrarian setup as institutional accumulation increases [7] Price Analysis - XRP is currently trading at a market price of $2.61, reflecting a 24-hour change of +0.74%, indicating potential technical strength [8]