XRP price rally: What drove its 47% weekly gains?

XRP price traded near $1.47 on Aug. 24 after gaining 47.5% in seven days, putting the payments focused cryptocurrency on course for its strongest weekly performance since November 2024. Summary XRP price traded near $1.47 on August 24, gaining 47.5% across seven days after breaking higher. Treasury doubled planned long bond buybacks to at least $4 billion per operation starting September. Marketwide short liquidations exceeded $1.2 billion during one 24-hour period, accelerating the broader cryptocurrency rally. Binance XRP leverage reached its highest level since early 2026, increasing two sided liquidation risks. XRP price remains nearly 60% below its July 2025 record high despite its sharp weekly recovery. The token rose 1.2% over the previous 24 hours and traded between $1.44 and $1.54, according to crypto.news data. Daily trading volume stood at approximately $4.72 billion, while market capitalization reached $92.3 billion. The crypto briefly moved above $1.50 before giving back part of the advance. The token remains about 59.6% below its July 2025 record of $3.65, showing that the rally has recovered only part of the previous bear market decline. Treasury buybacks helped XRP ...