XRP jumps 30% in strongest weekly rally in months

XRP is trading near $1.29 after gaining roughly 30% since last weekend, marking its strongest weekly advance in months. The token rebounded from a low of $0.9862 last week, returning to levels last seen before the November 2024 rally that eventually carried XRP toward an all time high near $3.65. Wednesday accounted for much of the move, with XRP gaining 10.4% during the session. The rally continued Thursday, pushing the token toward $1.32 and closer to its 200 day average. Bitcoin helped drive the broader market move after climbing above $72,000 Thursday, its highest level since the June selloff. The rally followed the US Treasury’s announcement that it would double long term bond buybacks to at least $4 billion per operation beginning Sept. 9. The move helped push yields lower and contributed to roughly $3 billion in crypto short liquidations over 24 hours. The announcement also came ahead of President Donald Trump’s meeting with executives from Coinbase, Ripple and Robinhood at the White House. XRP outperformed Bitcoin during the rally, while technical indicators showed sharply increasing momentum. The token’s Relative Strength Index rose to 79.2, placing it in overbought territ...