XRP posts biggest weekly gain since the 2024 election pump as Bitcoin short squeeze fuels broad crypto rally XRP—the token associated with Ripple—jumped to about $1.29 this week, rallying roughly 30% since last weekend when it traded below $1. The surge marks XRP’s strongest weekly performance in months and lifts it out of the same sub-$1 zone it occupied ahead of the November 2024 post‑election rally that pushed the token toward its all‑time high near $3.65. Last week’s low was $0.9862. The move accelerated midweek. On Wednesday XRP exploded 10.40%—its largest single‑day gain since a more than 20% spike on February 6—followed by another leg up on Thursday that nudged the weekly candle toward $1.32, bringing the token closer to breaching its 200‑day average than at any time this year. What lit the fuse: Bitcoin As is often the case, Bitcoin led the charge. BTC surged past $72,000 on Thursday, its highest level since the June flash crash, after the U.S. Treasury said it would double long‑bond buybacks to at least $4 billion per operation beginning Sept. 9. That announcement sparked roughly $3 billion in short liquidations within 24 hours and came hours before former President Trump met with executives from Coinbase, Ripple and Robinhood at the White House—events traders flagged as bullish catalysts. Even so, XRP outpaced what its usual correlation with Bitcoin would have predicted. Momentum and trend signals - RSI spiked to 79.2 on the daily chart, placing XRP well into overbought territory (RSI runs 0–100; readings near 80 suggest strong overbought momentum). - The Average Directional Index (ADX) sits above 29, signaling a strengthening trend (ADX readings above 25 typically indicate a confirmed trend, regardless of direction). Flows and positioning temper the picture The funding behind the move paints a more cautious portrait. Daily inflows into XRP ETFs fell from $5.81 million to $2.35 million on the very day XRP outperformed Bitcoin, while Bitcoin ETFs pulled in about $517 million—their largest single‑day inflow since May. Futures open interest for XRP has already slipped 11.31% from its rally‑day peak, and the token remains roughly 17.5% below its 200‑day trend. Bottom line This week’s rally is a meaningful short‑term win for XRP holders and the token’s best weekly showing since the 2024 election surge. But with ETF flows uneven, open interest easing, and XRP still below its long‑term average, bulls will need follow‑through gains—if not at the recent pace, then steady appreciation—to persuade skeptics and trigger a sustained trend reversal. Read more AI-generated news on: undefined/news