XRP Soars 46% as Regulatory Winds Shift
The cryptocurrency market has experienced a dramatic week, with XRP at its center. The token surged 46% in seven days to trade near $1.46, but its path was far from linear. A blistering 40% three-day advance pushed prices above $1.40 before erasing roughly $0.60 in value over the weekend.
The US Treasury's announcement that it would at least double buybacks of long-dated bonds created a risk-on environment, lifting the entire crypto complex. This favorable backdrop was followed by a cascade of forced buying as short sellers were caught flat-footed, triggering the second-largest short liquidation event in crypto history.
The political dimension added rocket fuel, with President Trump publicly pressing Congress to pass the Digital Asset Market Clarity Act and hinting at government Bitcoin purchases. A White House meeting on August 19 brought together Ripple CEO Brad Garlinghouse, Coinbase CEO Brian Armstrong, and regulatory heads, sparking optimism among investors.