XRP Prices Soar as Broader Market Recovery and Short Liquidations Fuel Demand

XRP's price surged by 8.36% in just one day to reach $1.49, fueled by the recovery of the broader cryptocurrency market and increased demand for alternative coins.

The move was led by Bitcoin, which rose 5.2%, as U.S. spot Bitcoin ETFs recorded $433 million in inflows on September 18, according to SoSoValue data. This influx of capital helped boost sentiment across the crypto market.

XRP's price gain was also attributed to its higher sensitivity to market momentum compared to Bitcoin, and the closure of short positions, which added to upward pressure during a rapid market move. CoinGlass recorded $262 million in short liquidations as rising prices forced traders holding bearish leveraged positions to close them.