XRP Surges 50% in a Week Amid Treasury Buybacks and Short Liquidations
XRP has staged a powerful recovery after weeks of lackluster price action, climbing roughly 50% to around $1.50 last week.
This move puts XRP on track for its strongest weekly performance since November 2024 and significantly outpaces major cryptocurrencies like Bitcoin, Ethereum, and Solana.
The rally marks a sharp reversal after weeks of lagging the broader crypto market.
The U.S. Treasury's recent announcement to buy back at least $4 billion of its own long-duration bonds between September 9 and November 4 has fueled speculation about easier liquidity conditions, improving sentiment across cryptocurrencies and other risk assets.
XRP's rapid advance has also been amplified by the unwinding of bearish futures positions, with nearly $2 billion worth of crypto short positions being liquidated during the week.