XRP has experienced a significant price surge, rising 38% over the past week amid various positive developments. The upward momentum began following an announcement from CME Group and CF Benchmarks about the launch of indices and reference rates for the cryptocurrency. Trading volumes for XRP have also surpassed those of Bitcoin on South Korean exchanges, driven by speculation of a potential settlement between the SEC and Ripple, although no settlement discussions were held this week. Additionally, the XRP Ledger has seen an 80% increase in transaction volume, with over 671,000 daily micropayment transactions reported. The Automated Market Maker on the XRP Ledger has crossed 10 million XRP, indicating strong DeFi adoption. Despite a recent dip to $0.54, XRP rebounded 58%, peaking at $0.6387, and continues to show strong support above key EMAs.