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Crypto

XRP Surges to New Highs Amid Cryptocurrency Rally

Guavy AI Editorial Team
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BTC XRP
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XRP has surged as much as 14.21% in 24 hours and 40.06% over the past week, making it the strongest performer among the top 10 cryptocurrencies by market value.

The cryptocurrency closed above both its 50-day and 200-day exponential moving averages for the first time since its August death cross formed.

XRP's breakout followed a rally that pushed Bitcoin higher after the U.S. Treasury announced larger long-dated bond buybacks beginning September 9.

Momentum indicators show a stretched rally, with XRP's Relative Strength Index reaching 83.5 and its Average Directional Index standing at 32.4.

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