XRP Posts Best Week Since 2024 Election as Bitcoin Squeeze Lifts Crypto

XRP, the token associated with Ripple’s payments ecosystem, often amplifies swings in the broader crypto market as leveraged positioning builds. Its latest advance is notable because it marks the strongest weekly performance since the rally that followed Donald Trump’s November 2024 election victory, when traders bet on a friendlier U.S. regulatory regime. That comparison makes XRP a useful gauge of whether renewed risk appetite is developing into a durable altcoin recovery or merely another leverage-driven burst.

Bitcoin broke above $71,000 on Aug. 20 as roughly $3 billion of bearish crypto positions were liquidated, according to CoinGlass, forcing short sellers to buy back into a rising market. XRP climbed to about $1.24, gaining more than 13% on the day and nearly 20% for the week. The supporting flows were less convincing: SoSoValue recorded only $2.25 million of net inflows into U.S. spot XRP ETFs for Aug. 10-14, while futures open interest had risen to about $2.73 billion, signaling elevated leverage and a growing risk that momentum has been pulled forward.