XRP Just Had Its Best Week Since the 2024 Election. Thank a Bitcoin Short Squeeze
XRP pulled off its biggest rally in months on the back of forced Bitcoin liquidations. Don't get comfortable—futures data warns this momentum won't last.
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Key takeaways
- XRP recorded its steepest daily and weekly price gains in months.
- The rally was fueled by a record wave of Bitcoin short liquidations.
- ETF flows and futures metrics signal the surge may rely on borrowed momentum.
XRP just posted its strongest daily and weekly numbers in months. How? It piggybacked on a massive wave of Bitcoin liquidations tearing through the market. That sudden spike gave the token its biggest price rally since the dust settled after the 2024 U.S. presidential election.
Don't confuse this with actual Ripple news—there wasn't any. A record short squeeze blew derivative traders right out of their Bitcoin positions. That forced buying cascaded across the board, pulling major altcoins up for the ride alongside the market leader.
Here's the catch you need to pay attention to. Data from spot ETF flows and crypto futures markets shows this rally is living on borrowed time. If real spot buyers don't step in to back up all that forced short covering, there's no real floor beneath this price.
Why it matters
Liquidation-fueled pumps tend to vanish just as fast as they show up. If institutional ETF inflows stay cold and futures leverage cools off, anyone buying this breakout is setting themselves up for a brutal pullback.
Source: Decrypt
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