The current week witnessed a significant increase in the price of XRP, from less than $1 last week when closing to about $1.29, with a cumulative increase of about 30 per cent during the week. This was the strongest week since the rise in the US election in 2024.

Wednesday alone, 10%.

Wednesday is the main time of this turn. The XRP rose by 10.4 per cent that day, creating the largest single-day increase since 6 February. It then continued on Thursday and the weekly line was close to US$1.32.

Last week, XRP went down to 0.9862. This position is close to its level before the November 2024 elections. On the other hand, XRP then came out of a round of rapid lifting, at a price approaching $3.65.

Bitcoin broke $72,000.

The starting point for this round is the re-entry of bitcoin at $72,000. Markets generally link them to large-scale headbacks. The announcement by the United States Department of the Treasury to increase the scale of long-term public debt buy-backs to at least $4 billion per buy-back, effective 9 September, was also seen as one of the contextual factors driving the rebound in risk assets.

In addition to the United States Treasury's restructuring of the long-term bond buy-back arrangement, Trump met with the encryption executives of Coinbase, Ripple and Robinwood in the White House the same day. These factors together contribute to higher market risk preferences.

  • Bitcoin ETF One-day net inflow of approximately $517 million
  • XRP ETF Net One-day Inflow from $5.81 million to $2.35 million
  • XRP Futures Unsettled Contract is 11.31% higher than the same day

Differing financial flows and price trends

Although XRP won bitcoin this week, the funding data is not synchronized. On the day of the increase in the XRP, its ETF flows declined, while Bitcoin ETF recorded the largest single-day inflows since May.

Derivatives markets also show that some of the short-term funds have begun to retreat. The XRP futures open contract has fallen by more than 11 per cent from the peak of the current upturn, indicating that some of the leverage positions were flatted or voluntarily left after a rapid upturn.

In the longer term, the XRP is still about 17.5 per cent below its 200-day trend line. This means that, while the short-term rise is evident, whether the market is entering a more sustained up-to-date phase will depend on the continued robustness and continuation of subsequent prices.