XRP Surges 51% in Week Amid US Treasury Move

XRP has had its strongest week in nearly two years, surging 51% since Monday and reaching $1.50 on August 23. This sharp reversal comes after a stalled regulatory calendar and thin ETF demand weighed down the token for much of the summer.

The token's market cap has now passed $77 billion and placed it fifth among all cryptocurrencies, ahead of USDC. However, even with this week's rally, XRP has only recovered about a fifth of its decline from its July 2025 record of $3.65 to around $1.00 in early August.

The trigger for the bounce came from Washington, not Ripple, as the U.S. Treasury announced it would more than double its long-bond buybacks. This set off nearly $2 billion in short liquidations across crypto, forcing bearish traders to buy back positions.