XRP surged 14.21% in 24 hours to $1.40, making it the best-performing asset among the top 10 cryptocurrencies by market cap, outpacing Bitcoin (+7.44%) and Ethereum (+4.50%). The daily candle closed above both the 50-day and 200-day exponential moving averages for the first time since a death cross formed earlier this month, a traditionally bearish signal. The move rides a broader Bitcoin short squeeze that pushed the leading cryptocurrency above $77,000, combined with a U.S. Treasury plan to nearly double long-bond buybacks starting September 9, a context traders have nicknamed QE Lite. XRP also benefited from a $275 million Ripple bond sale and new SEC crypto exemption rules.
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