XRP is trading near $1.29, up 30% since last weekend's close under $1, in its strongest week since the token's 2024 election-driven rally. The move rode a Bitcoin breakout above $72,000, yet XRP's own ETF inflows shrank the same day the token outpaced Bitcoin's gains.
XRP is trading near $1.29, up 30% since last weekend's close under $1. The token bottomed at $0.9862 last week, the same zone it sat in just before November 2024's post-election rally carried it toward an all-time high near $3.65.
XRP gained 10.40% on Wednesday, its sharpest single-day move since February 6, when the token also jumped more than 20%. Thursday brought a second leg higher, pushing the weekly candle toward $1.32.
Bitcoin's break above $72,000 fuels the rally
The spark was Bitcoin. The largest cryptocurrency punched past $72,000 on Thursday, its highest price since a June flash crash, after the U.S. Treasury said it would double long-bond buybacks to at least $4 billion per operation starting September 9. That announcement triggered $3 billion in short liquidations over 24 hours through a short squeeze, landing hours before Trump met crypto executives from Coinbase, Ripple, and Robinhood at the White House.
On the daily chart, XRP's Relative Strength Index spiked to 79.2, deep into overbought territory. Its Average Directional Index reading is holding above 29, indicating an increasing trend, while futures open interest has already dropped 11.31% from its rally-day peak.
ETF inflows fall even as XRP outperforms
The money backing the rally tells a different story. US spot XRP ETFs logged about $5.81 million in net inflows on August 18, led by Bitwise with roughly $2.24 million and Grayscale with about $1.94 million. But daily XRP ETF inflows then fell to $2.35 million the same day the token beat Bitcoin's gains, while Bitcoin ETFs pulled in $517 million, their biggest single-day haul since May.
Total XRP ETF net assets stood near $941 million as of August 18, well below the roughly $1.518 billion in cumulative net inflows the products have drawn since launch, a gap that reflects XRP's price decline rather than investor redemptions.
XRP still trades about 17.5% below its 200-day trend, so the token must keep posting gains, even at a slower pace, to signal a sustained reversal.
Sources: Decrypt, 24/7 Wall St.
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