XRP Price: What’s Behind the 51% Weekly Surge and What Comes Next

TLDR

• XRP surged 51% this week to $1.50, its best weekly gain since November 2024
• The rally was triggered by a U.S. Treasury announcement to buy back $4 billion in long-duration bonds
• Nearly $2 billion in short positions were liquidated this week
• Whale sell walls sit between $1.48 and $2.00, limiting near-term upside
• Binance holds 2.62 billion XRP in reserves, representing elevated exchange supply

XRP climbed 51% this week, reaching $1.50 on August 23. That makes it the best weekly performance for the token since November 2024. The move put XRP well ahead of bitcoin (22%), ether (30%), and Solana (28%) over the same period.

The catalyst was a U.S. Treasury announcement. From September 9 to November 4, the Treasury will buy back $4 billion or more of its own 10- to 30-year bonds, doubling the previous $2 billion cap. Markets read that move as a signal that policymakers may be working to cap rising bond yields.

Yields on longer-duration bonds hit their highest levels since 2007 earlier this week. That raised concerns about government debt costs and reduced appetite for risk assets. The Treasury buyback announcement eased those concerns and sent crypto prices higher across the board.

… Continue reading the full article at the original source below.