XRP Surges to $1.10 as Treasury Liquidity Injection Boosts Crypto Market

XRP has surged by over 10% to $1.10 as investors capitalize on optimism surrounding a liquidity injection from the U.S. Treasury.

The move, which was amplified by a massive short squeeze and sector rotation into regulated digital commodities, saw XRP closely tracking Bitcoin's 7.25% gain and the total crypto market's 7.4% increase.

The primary driver behind the rally was the U.S. Treasury's announcement to double its maximum long-term bond buybacks to $4 billion per operation starting September 9, which pushed Treasury yields down from 19-year highs.

XRP faces immediate resistance at the 23.6% Fibonacci level near $1.10 and the recent swing high of $1.13, with a trading signal at 73.64 indicating overheated conditions.