XRP Breaks Out of Death Cross Amid Bitcoin Rally and Treasury-Lifted Liquidity

XRP has broken out of its death cross pattern and is now trading above both the 50-day and 200-day EMAs for the first time since July. The move comes as Bitcoin continues to rally, with prices reaching a new high above $77,000 on the back of a record short squeeze.

The Treasury's plan to nearly double its long-bond buybacks starting September 9 has lifted liquidity across the market, and XRP has been among the biggest beneficiaries. The coin has gained 14.21% in 24 hours and 40.06% over the past week, outperforming other top 10 cryptocurrencies like Bitcoin and Ethereum.

XRP's price chart showed a death cross pattern for months, with every bounce attempt stalling either at or just below the cloud formed by the 50-day and 200-day EMAs. However, today's candle closed above both averages, marking the first time since the death cross locked in earlier this month.