XRP Logs Biggest Weekly Gain Since 2024 Election Pump as Bitcoin Squeeze Lifts Altcoins

XRP, created by Ripple’s co-founders, just put up its strongest weekly performance in months. After bottoming at $0.9862 last week—roughly the same zone seen before the November 2024 post‑election run toward its near $3.65 all-time high—the token is trading near $1.29, up about 30% from last weekend’s close under $1. The burst was front‑loaded: Wednesday’s 10.40% jump marked the biggest one‑day gain since February 6 (when it rallied more than 20%), and Thursday extended the move, briefly pushing the weekly candle toward $1.32. That leaves XRP the closest it has been this year to reclaiming its 200‑day average, even if it still sits roughly 17.5% below that trendline.

What actually powered the jump - Bitcoin broke above $72,000 on Thursday, its highest print since a June flash crash, igniting a record wave of short liquidations—about $3 billion over 24 hours. - The macro spark: the U.S. Treasury said it will double long‑bond buybacks to at least $4 billion per operation starting September 9. - The move landed hours before a White House meeting between Donald Trump and crypto executives from Coinbase, Ripple, and Robinhood. - XRP outran what its historical correlation to BTC would imply, a sign that alt beta and residual momentum took over once the squeeze started.

Momentum is loud; flows are quiet On the daily chart, XRP’s Relative Strength Index spiked to 79.2—decidedly overbought—while the Average Directional Index held well above 29, pointing to strong trend intensity. Yet the capital behind the candle is more nuanced:

- Daily XRP ETF inflows fell from $5.81 million to $2.35 million on the same day XRP outperformed Bitcoin. - Bitcoin ETFs, by contrast, hauled in $517 million—its biggest single‑day take since May. - XRP futures open interest has already slid 11.31% from the rally‑day high. - Despite the pop, XRP remains about 17.5% below its 200‑day moving average.

Taken together, the tape reads like a positioning cleanse rather than an influx of sticky spot demand. Overbought momentum with declining open interest usually points to short‑covering and de‑risking, not aggressive new longs. ETF flow divergence—softening in XRP products while Bitcoin ETFs see heavy subscriptions—adds to the idea that this leg was borrowed from BTC’s macro tailwind, not sparked by idiosyncratic XRP catalysts.

How I’m framing sustainability Alt rallies that begin with a Bitcoin squeeze often need a second engine: either persistent spot buying or a clear narrative catalyst. Without that follow‑through, traders tend to fade stretched RSI prints, especially while price sits below the 200‑day. If flows re‑accelerate and XRP grinds, not gaps, toward the long‑term trend, the bear case weakens. If open interest rebuilds on stable funding and ETFs resume net inflows, the probability of a trend change improves.

Key tells over the next few sessions: - Reclaim and hold higher highs without repeated wicks above $1.30–$1.32 - ETF inflows turn higher for XRP while BTC flows stay firm - Derivatives metrics stabilize: open interest builds on dips, funding normalizes - Correlation to BTC cools with XRP delivering positive residual returns

It’s a strong week, and holders will take it. To convert a squeeze into a durable uptrend, the market likely needs evidence of real demand—measured in steady flows and constructive structure—more than another burst of reflexive momentum.