Short squeeze and Ripple advances boost XRP 8%
XRP gained over 8% as a crypto short squeeze and new Ripple developments drew market attention.
XRP gained over 8% as a crypto short squeeze and new Ripple developments drew market attention.
XRP inflows to Binance surged 663% above average, but reserves rose just 0.22%, signaling repositioning. Whale accumulation continued.
XRP rose 7% to $1.39 after CLARITY Act failure and Fed rate hike; key level at $1.41.
XRP trades around $1.30 as futures open interest drops, with key support at $1.26-$1.28.
XRP's two-week RSI fell to a record low near 33.5, sparking debate over whether the token has found its cycle bottom.
XRP rose above key moving averages on Thursday, but weak funding rates and cautious on-chain signals left traders unsure whether the recovery can hold.
Standard Chartered initiated Arbitrum coverage with a $10 target for 2030, projecting ARB could rise 66-fold from current levels.
Ripple and MicroStrategy said the CLARITY Act's Senate defeat did not alter XRP or Bitcoin's legal standing, citing court rulings and regulatory guidance.
The US Senate failed to advance crypto market structure legislation, sending bitcoin lower as traders reacted to regulatory uncertainty.
XRP and XLM rose over 8% on September 14 as the Senate prepared for a key vote on the CLARITY Act, which would classify some digital assets as commodities.
Grayscale launched a model portfolio for advisors with XRP as the second-largest holding at 26.11%.
RLUSD's circulating supply climbed to an all-time high of $2.442 billion, even as XRP's price stayed weak and XRP ETF inflows ran steady.
Former RippleX product head Jazzi Cooper said using XRP as collateral for institutional credit is a "killer use case."
Teucrium delayed its short XRP ETF for the 19th time, pushing the earliest start to October 11, 2026.
Former Ripple CTO David Schwartz said XRP could surpass Bitcoin by market cap, but only through faster growth, not Bitcoin's decline.