XRP rose as much as 14.21% over a 24-hour period to trade near $1.40, establishing itself as the best-performing asset among the top 10 cryptocurrencies by market cap. The daily candle opened Friday at $1.2681, reached an intraday high of $1.4300, and marked a 40.06% gain over the week, outpacing 24-hour gains for both Bitcoin and Ethereum.
The recent price movement allowed XRP to close above both its 50-day and 200-day exponential moving averages (EMAs) for the first time since a death cross formed earlier in the month. While the short-term 50-day average remains below the 200-day average, reclaiming the space above both technical levels represents a shift from previous bounce attempts that stalled at those moving averages.
Technical indicators reflect strong momentum and volatility during the advance. The Relative Strength Index (RSI) reached 83.5, placing the asset in deep overbought territory. The Average Directional Index (ADX) stood at 32.4 with the buy-side directional line above the sell-side, while the Squeeze Momentum Indicator indicated that a volatility squeeze has fired with rising momentum.
The broader market movement has been supported by a Bitcoin short squeeze and a U.S. Treasury plan to expand long-bond buybacks starting September 9. Additional developments mentioned alongside the market activity include a $275 million Ripple bond sale and new SEC crypto exemption rules, while upcoming dates to watch include a scheduled Senate review of the Clarity Act on September 15.
