XRP posted its strongest weekly performance in months, surging nearly 30% since last weekend and trading close to $1.29. The jump followed a sharp move upward on Wednesday, when the cryptocurrency gained 10.40% in a single day, its largest daily increase since early February.
Bitcoin rally fuels altcoin surge
The broader momentum originated from Bitcoin breaking above $72,000 on Thursday, marking its highest price since a June flash crash. The move was linked to a U.S. Treasury announcement that long-bond buybacks would double to at least $4 billion per operation starting September 9. Over $3 billion in short positions were liquidated within 24 hours, adding further fuel to the rally across the cryptocurrency market.
The announcement came just hours before Donald Trump reportedly met with executives from Coinbase, Ripple, and Robinhood at the White House, further energizing crypto investors. Despite these developments, XRP outperformed its historical correlation with Bitcoin and staged a more significant weekly rally than expected for an altcoin.
XRP, created by the co-founders of Ripple, has been a central player in the digital payments space since its launch in 2012. Ripple aims to facilitate fast and cost-effective cross-border transactions for banks and financial institutions.
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AAPLMini dictionary: Relative Strength Index (RSI) – A technical indicator that measures momentum on a scale from 0 to 100; values above 70 suggest overbought conditions, while values below 30 indicate an oversold asset.
Technical indicators and ETF inflows
On Wednesday, XRP’s Relative Strength Index (RSI) spiked to 79.2 on the daily chart, placing the token in highly overbought territory. The Average Directional Index (ADX), another key technical indicator, held above 29, reflecting strong momentum behind the move – ADX readings above 25 typically indicate the presence of a robust trend.
Mini dictionary: Average Directional Index (ADX) – A technical analysis tool used to quantify the strength of a trend, where readings above 25 signal a strong directional movement.
Despite the price rally, daily ETF inflows into XRP fell sharply from $5.81 million to $2.35 million on its strongest day. Meanwhile, Bitcoin ETFs attracted $517 million, marking their highest single-day inflow since May. Futures open interest for XRP dropped more than 11% from its rally peak, suggesting reduced leveraged trading activity.
| Metric | XRP | Bitcoin |
|---|---|---|
| Daily ETF inflows (peak day) | $2.35 million | $517 million |
| Weekly price gain | 30% | N/A |
| Futures open interest (change) | -11.31% | N/A |
Trend outlook and market position
XRP began the week just below $1, coming off a bottom of $0.9862 — a level last seen before its post-election rally in November 2024, when it neared an all-time high close to $3.65. The recent surge brought the token closer to the average price of its last 200 days, with Thursday’s session approaching $1.32.
Despite the rally, XRP is still trading 17.5% below its 200-day moving average. Some caution remains among investors and analysts, who point to the need for continued price gains to confirm a sustained trend reversal.
XRP surged 10.40% on Wednesday, followed by a second strong leg Thursday, bringing the week’s gain near 30% and putting the token back in line with its long-term average for the first time this year.
While the recent uptrend has provided optimism among supporters, technical signals indicate that further progress is necessary for XRP to convince skeptics of a lasting breakout.
