XRP Surges 50%, Eyes $1.80 Target as Shorts Suffer Historic Wipeout

XRP has experienced a significant surge in recent days, with over $100 million worth of shorts being liquidated in just five days. This marks one of the most dramatic bloodbaths for bears in XRP's history.

The sudden shift is attributed to the U.S. Treasury Department doubling its allocation for treasury buybacks starting in September and a new regulatory framework from the Securities and Exchange Commission (SEC).

XRP has also seen an influx of $40 million in net inflows into exchange-traded funds (ETFs) linked to the token, breaking a two-month downtrend.