XRP Adds $10B Market Value in One Day as Price Spikes 15%

$XRP recently added $10 billion to its market value in a single day as its price jumped 15% amid a broader recovery across the crypto market.

Several positive developments have helped lift market sentiment and bring buyers back into risk assets. The crypto market gained $161 billion yesterday and has added another $58 billion so far today, taking its total value to a three-month high of $2.41 trillion.

This recovery came as theUS Treasuryannounced plans to double its liquidity-support operations, with President Trump also meeting with crypto executives at the <a href="https://xpertsstudio.com/strategy-shares-gain-as-<a href="https://xpertsstudio.com/bitcoin-etfs-log-462m-inflows-as-btc-tops-73k/” title=”Bitcoin ETFs Log $462M Inflows as BTC Tops $73K”>bitcoin-breaks-71k-after-white-house-crypto-summit/” title=”Strategy Shares Gain as Bitcoin Breaks $71K After White House Crypto Summit”>White House. Notably, Bitcoin has moved above $72,000 for the first time since early June.

$XRP Adds $10 Billion to Its Market Value

$XRP has leveraged the recovery to push above $1. The token reached $1.16 earlier today before falling back to around $1.15. Over the past 24 hours, $XRP has added $10.14 billion to its market value. Notably, it gained $6.53 billion yesterday alone and has added more than $3.6 billion today.

With the recent rally,$XRP’s market capitalizationhas surged to $72.77 billion, its highest level since July 4. $XRP has also gained 15.46% over the past 24 hours, making it the third-biggest gainer among the top 10 crypto assets by market value.

The latest rally has pushed $XRP into fifth place among the top 10 crypto assets, putting it ahead of USDC. However, CoinMarketCap had not updated its rankings at press time.

$XRP has alsoperformed better than$BNB during the recent market recovery. Still, the gap between the two assets remains wide. $BNB currently has a market value of $85.5 billion, compared with $XRP’s $72.77 billion.

$XRP would therefore need to add about $12.73 billion to its market value to match $BNB. Based on the current figures, the token would need to gain another 18%, taking its price to about $1.36, to reach $BNB’s current market value.

Catalysts Behind the Rally

The recent recovery has several key drivers. For one, underSecretary Scott Bessent, the Treasury announced plansto at least double its liquidity-support operations for longer-dated Treasuries, increasing each operation from roughly $2 billion to at least $4 billion.

The Treasury plans to start the larger operations around Sept. 9 and continue them into early November. The announcement came after the 30-year Treasury yield climbed to a multi-year high near 5.34%. The yield later fell toward roughly 5.2%, while bond prices rose and market liquidity improved.

Meanwhile, the initial price gains triggered a large wave of forced buying as traders holding short positions facedliquidations. Around $2.7 billion to $3 billion in crypto short positions were liquidated across the market within roughly 24 hours.

When exchanges closedthese losing short positions, traders had to buy back the assets they had sold.This forced buying added more upward pressure and helped push the wider market higher.

White House Meeting Adds to Crypto Optimism

Political and regulatory developments have also helped improve sentiment.President Trumprecently met with crypto executives, including representativesconnected toCoinbase, Gemini, Ripple, Chainlink Labs, and other companies,duringa White House event.

Trump also urged Congress to move forward with a fair version of the Digital Asset Market Clarity Act, an important piece of proposed crypto market-structure legislation.

The meeting added to other recent signs of a more supportive US policy approach toward digital assets. Recent SEC proposals have also focused on easing some rules around digital-asset fundraising and exemptions.

Source: cryptonews.net