XRP Surges 67% as US Treasury Doubles Bond Buyback Program

XRP surged up to 67% in its biggest weekly gain since late 2024, following the US Treasury's announcement that it would double its long-term bond buyback program from $2 billion to $4 billion per operation starting September 9.

The move pushed bond prices up and yields down, easing market concerns and encouraging risk asset investments. This triggered a massive short squeeze, liquidating over $3 billion in crypto shorts and lifting Bitcoin above $68,000.

Institutional interest in XRP is growing, with whales and ETFs accumulating tokens ahead of the recurring buyback program, suggesting sustained positive momentum for the crypto market.