Ripple Rises: XRP Surges 50% on Treasury Buybacks and Short Squeeze

XRP has surged nearly 50% this week, its strongest performance in over 21 months. The token's rally is largely driven by Treasury buyback optimism and a massive short squeeze.

The move has outpaced other major cryptocurrencies, including Bitcoin and Ethereum. XRP has climbed around 51% since Monday to approximately $1.50.

A significant factor in XRP's gains is the unwinding of bearish positions. According to CoinGlass data, nearly $2 billion in XRP short positions were liquidated during the week.