XRP was trading near $1.29, up about 30% from last weekend’s close below $1, in what Decrypt described as the token’s strongest week in months.
The move started from a level XRP had not seen since just before its 2024 election rally. The token bottomed at $0.9862 last week, the same zone where it sat before the post-election run in November 2024 pushed it toward an all-time high near $3.65.
Most of the weekly advance came midweek
Wednesday did most of the work. XRP rose 10.40% that day, its biggest one-day gain since February 6, when it also jumped by more than 20%.
Thursday brought another leg higher, pushing the weekly candle toward $1.32. According to the report, that was the closest XRP has come this year to breaking above its average price over the last 200 days.
Bitcoin’s break above $72,000 set the tone
Decrypt said Bitcoin was the spark, which is often the case for altcoins. BTC moved past $72,000 on Thursday, reaching its highest price since the June flash crash.
The move followed a U.S. Treasury announcement that it would double long-bond buybacks to at least $4 billion per operation starting September 9. That announcement was followed by $3 billion in short liquidations over a 24-hour period. It also came hours before Trump met crypto executives from Coinbase, Ripple, and Robinhood at the White House.
Momentum indicators show XRP in overbought territory
Even so, XRP ran ahead of what its normal correlation with Bitcoin would suggest. On the daily chart, the Relative Strength Index, or RSI, jumped to 79.2.
RSI measures momentum on a 0-to-100 scale. Lower readings point to oversold conditions, while higher readings indicate overbought conditions. At nearly 80, XRP is firmly in overbought territory.
The token’s Average Directional Index, or ADX, remained above 29. That points to strengthening trend conditions after the sharp move. ADX measures the strength of a trend rather than its direction, and readings above 25 are generally seen as confirmation that a trend is in place.
Fund flows and derivatives data were less convincing
The money behind the rally painted a less clear picture. On the same day XRP outperformed Bitcoin, daily XRP ETF inflows fell from $5.81 million to $2.35 million. Bitcoin ETFs, by contrast, pulled in $517 million, their largest single-day haul since May.
Futures open interest has already dropped 11.31% from its reading on the rally day. XRP also remains about 17.5% below its 200-day trend.
The weekly move was strong, but follow-through still matters
Decrypt’s conclusion was straightforward: the rally was large and likely welcome news for XRP holders. But if the asset is to turn its longer-term trajectory and convince bearish traders, it will need to keep adding gains, even at a slower pace, to trigger signals of a more durable trend reversal.