XRP is up 30% to 67% this week, its biggest weekly gain in 21 months. The US Treasury announced on August 19 it would double its long-term bond buyback program from $2 billion to $4 billion per operation, effective September 9. The 30-year Treasury yield retreated from a 19-year high of 5.337%, boosting risk assets across the board. More than $3 billion in crypto short positions were liquidated during the surge, with Bitcoin shorts alone accounting for $2.75 billion. ETF holdings of XRP approached nearly 1 billion tokens, signaling growing institutional appetite for the asset.
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