XRP Leads Crypto Rally as Bitcoin Surges to Two-Year High

The crypto market has seen a broad surge in recent days, with Bitcoin (BTC) leading the charge. Bitcoin's price briefly topped $79,000 on Friday, marking its biggest weekly gain in two years.

This rally has been different from previous ones, with gains not concentrated in just a few idiosyncratic names but rather across the sector as a whole. According to Iliya Kalchev of Nexo Dispatch, this is a sign that the rally may be more sustainable.

XRP was the standout performer over the past few days, rising nearly 40% and crossing $1.40 for the first time in months. Kalchev attributed some of XRP's outperformance to a regulatory backdrop that appears favorable to the token, amid growing optimism around U.S. crypto legislation.

Analysts remain divided over what sparked the move, with some attributing it to genuine spot and ETF demand while others argue that markets are giving too much credit to recent interventions.