XRP has surged past the $3 mark once more, with market dynamics and strategic moves driving its growth substantially.

In a significant turn of events, the digital asset XRP has been experiencing a surge in momentum, driven by a series of catalysts.

The incorporation of institutional custody services for XRP by KODA (Korea Digital Asset Trust), a leading custodian in South Korea, is one such catalyst. This development is expected to enhance market liquidity and investor confidence in XRP within South Korea.

Another key factor is the resolution of the long-standing lawsuit between Ripple and the SEC. The withdrawal of appeals by both parties signals the final closure of a lawsuit that had dragged on for years, removing a significant obstacle to XRP's adoption.

Experts are optimistic about XRP's future, with predictions suggesting a possible price rise to $4 or even $7 in the medium term. This optimism is backed by several technical indicators, which suggest that XRP could be starting a new bullish phase.

The market capitalization of XRP currently stands at $192 billion, making it the 89th most valuable asset in the world. This places XRP among the world's most valuable digital assets, surpassing giants like Uber and Verizon.

XRP's trading volume in the last 24 hours exceeded $12.9 billion, reflecting robust investor interest. The consolidation of XRP's environment could signal the start of sustained expansion.

The consolidation of institutional interest in XRP is evident. BDACS, a leading custodian in South Korea, has also begun offering support for both XRP and Ripple USD (RLUSD).

The role of XRP as a bridge between traditional finance and blockchain technology gives it a significant competitive advantage. This unique positioning is contributing to the positive outlook for XRP, which is part of a broader optimistic sentiment in the crypto market.

There has been a 1.8% increase in funds locked in XRP derivatives, indicating a growing preference for long positions on exchanges for XRP. XRP's price recovery is supported by this shift in sentiment, with the asset reaching an intraday high of $3.37 and currently trading near $3.24.

The consolidation of these factors paints a promising picture for XRP's future, with the potential for sustained growth and expansion in the coming months.

XRP has surged past the $3 mark once more, with market dynamics and strategic moves driving its growth substantially.