XRP Surges 40 Percent Amid Trump Crypto Push

The price of XRP rose 40 percent over one week to reach $1.41, outperforming Bitcoin and Ethereum. The rally began on Wednesday with a 10.17 percent single-day gain to $1.1019, marking its largest percentage increase since February 6, 2026. This surge was amplified by a market-wide short squeeze that liquidated approximately $1.57 billion in cryptocurrency shorts over 24 hours.

Two primary catalysts drove the momentum. The United States Department of the Treasury announced it would double long-term government bond buybacks to at least $4 billion per operation starting September 9, a move that lowered yields and shifted capital toward riskier assets. Simultaneously, President Donald Trump hosted cryptocurrency executives, including Ripple CEO Brad Garlinghouse, at the White House on August 19. During the meeting, Trump urged Congress to pass the CLARITY Act, which would classify XRP as a commodity under federal law. The United States Senate is scheduled to vote procedurally on the Act on September 15.

Institutional interest further supported the rally, as Goldman Sachs disclosed $86.5 million in XRP exchange-traded fund holdings in its second-quarter filing. Meanwhile, Ripple is developing an institutional lending platform on the XRP Ledger with Clearpool and Cicada Partners, though the product is currently pending validator voting. Despite these gains, XRP remains nearly 70 percent below its July 2025 all-time high of $3.66.