XRP Surges 40%: Can It Hit $3.84 by September 15?

XRP has surged 40% in the past week, outperforming both Ethereum and Bitcoin. The price currently stands at $1.41. One key factor driving this rally is the US Treasury's decision to double its buybacks of long-term government bonds. This move pushed money towards riskier assets, including cryptocurrencies.

The CLARITY Act, which would classify XRP as a commodity under federal law, is set for a Senate vote on September 15. However, the bill's passage is far from certain, with key issues still unresolved.

Ripple has been building an institutional lending platform using the XRP Ledger, in collaboration with Clearpool and Cicada Partners. While this project may help support the price of XRP in the long term, it is not yet operational.