On Wednesday, XRP surged 10.40%, marking its largest single-day gain since February 6, and continued upward Thursday, delivering approximately a 30% increase for the week.
The rally stems from Bitcoin’s breach of the $72,000 level, driven by a record short squeeze and a U.S. Treasury announcement to double long‑bond buybacks to at least $4 billion per operation beginning September 9.
Despite XRP’s outperformance relative to Bitcoin, its ETF inflows declined during the spike, and futures open interest has slipped more than 11% from the peak reached on the rally day.
XRP, the digital asset launched by Ripple’s founders, is currently trading around $1.29, reflecting a roughly 30% rise from its level below $1 at the close of last weekend.
This marks XRP’s strongest weekly performance in months, originating from a price level not seen since shortly before its 2024 election‑related surge. The token dipped to $0.9862 last week, the same zone it occupied ahead of the November 2024 post‑election rally that pushed it toward an all‑time high near $3.65.
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Wednesday’s session drove the bulk of the advance, with XRP climbing 10.40%—its sharpest single‑day move since February 6, when it also rose more than 20%. Thursday added a second leg, pushing the weekly candle toward $1.32, the nearest it has come to surpassing the 200‑day average price since the start of the year.
XRP price data. Image: Tradingview
The catalyst was Bitcoin, which—as is typical for altcoins (any cryptocurrency besides BTC)—surpassed $72,000 on Thursday, reaching its highest level since a June flash crash. This followed a U.S. Treasury announcement that it would double long‑bond buybacks to at least $4 billion per operation beginning September 9, triggering roughly $3 billion in short liquidations within 24 hours. The news arrived just hours before President Trump met with crypto executives from Coinbase, Ripple, and Robinhood at the White House.
While this reflects a typical Bitcoin‑driven move, XRP’s performance exceeded what its usual correlation to Bitcoin would suggest. On the daily chart, the Relative Strength Index (RSI) climbed to 79.2.
The RSI gauges momentum on a scale of 0 to 100, where low values signal an oversold condition and high values indicate overbought. At just under 80, XRP sits firmly in overbought territory. Meanwhile, its Average Directional Index (ADX) remains above 29, reflecting strengthening trend momentum amid the sharp move. (An ADX reading over 25 generally confirms a trending market.)
The flow of funds paints a different picture: daily XRP ETF inflows dropped from $5.81 million to $2.35 million on the day the token outpaced Bitcoin, while Bitcoin ETFs attracted $517 million—their largest single‑day inflow since May.
XRP ETF data. Image: CoinGlass
Futures open interest has already slipped 11.31% below its rally‑day peak, and XRP continues to trade roughly 17.5% under its 200‑day average.
In short, the move is significant and likely to please XRP holders. However, to persuade skeptics considering the long‑term outlook, the asset needs to keep delivering gains—even if at a more moderate pace—to generate signals of a lasting trend reversal.
