Bitcoin and XRP are surging toward their strongest weekly closes since 2024, powered by a historic short squeeze and a wave of supportive policy signals from Washington.

On-chain data now adds another layer, hinting this rally could mark more than a temporary bounce.

Bitcoin and XRP Surge as On-Chain Data Flashes a Rare Bottom Signal

The MVRV ratio compares Bitcoin’s current market value to its realized value, the average price at which coins last moved. Sharp vertical rises in this metric have historically preceded major cycle bottoms.

Bitcoin trades above $79,000, up roughly 25% over the past seven days and more than 13% in the last 24 hours, according to BeInCrypto data. Analysts called this the biggest weekly gain since February 2024, adding approximately $280 billion to market capitalization in under five days.

CryptoQuant analyst Crypto Dan flagged the MVRV signal as notable. He described the rebound as the first powerful signal in this bear cycle, echoing patterns seen at the end of previous downcycles.

“Bitcoin’s recent rebound is a signal that has emerged for the first time in this Bear cycle. The MVRV indicator, which measures Bitcoin’s present valuation, is showing a vertical rise. This signal is the very movement that appeared as the bottom range came to an end in every past downcycle. suggesting that the possibility of the market turning from decline to ascent is growing,” Crypto Dan said. Bitcoin (BTC).

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XRP outperformed even more dramatically. The token changed hands near $1.40, up about 31% on the week and more than 18% for the day, after hovering near or below $1 just days earlier. Analysts called this XRP’s strongest week since November 2024.

A historic short squeeze drove most of the move. Billions in leveraged bearish positions were liquidated as prices broke higher, forcing sellers to buy back coins and accelerating the rally.

The US Treasury doubled long-term bond buybacks, while President Trump voiced support for the CLARITY Act at a White House meeting.

What Comes Next for Bitcoin and XRP?

Technical analysts are watching key levels closely. Trader Ted pointed to Bitcoin’s powerful weekly candle, which has smashed through multiple resistance zones.

The next major test lies between $78,000 and $80,000, and a successful reclaim could signal the end of the bearish structure that has dominated since late 2025.

For XRP, analyst ChartNerdTA emphasizes the weekly 20 and 50 EMAs, which are currently trading between roughly $1.20 and $1.50.

A sustained reclaim of those moving averages would mark a genuine macro bullish shift, while failure to hold above them could trigger consolidation or a deeper pullback toward longer-term support.

The short-term momentum looks undeniable, though the market remains volatile. Traders will watch whether the rally transitions from squeeze-driven gains into sustained organic demand, particularly through ETF flows and continued on-chain activity.

A healthy consolidation after such a sharp move would not be unusual and could set the stage for the next leg higher.

Both assets have reminded the market how quickly sentiment can reverse when catalysts align. The coming days will reveal whether this breakout marks the start of a durable recovery or a temporary relief rally.

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The post Bitcoin and XRP Head for Strongest Weekly Close Since 2024: What’s Next? appeared first on BeInCrypto.

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XRP price extended its breakout above $1.40 on Aug. 21 as regulatory optimism, whale accumulation and forced short covering lifted the token from its recent $1.00 floor.

Summary

• XRP price climbed roughly 20% in 24 hours and reached an intraday high of $1.43.
• Whales accumulated more than 300 million XRP over 96 hours, according to Ali Charts.
• The daily Supertrend turned bullish at $1.14 as Chaikin Money Flow rose to 0.17.
• Liquidation data places the next major pocket of leveraged positions between $1.43 and $1.48.

XRP price action today

According to data from crypto.news, XRP (XRP) price was trading near $1.39 at the time of writing after reaching $1.43. The token gained about 20% over the previous 24 hours, with its daily candle up 9.5% from an opening price of $1.27.

The move marked a sharp reversal from the decline that pushed XRP to approximately $0.99 earlier this week. Buyers first reclaimed $1.10 before driving the price through resistance between $1.18 and $1.26.

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Breaking that band accelerated the rally because XRP had traded below it since its June sell-off. The token also cleared its May and July swing highs, ending a sequence of lower highs visible on the daily chart.

The 4-hour chart shows that XRP reached $1.43 before pulling back toward $1.31 and then recovering. Buyers defended the dip, allowing the token to return to the upper $1.30 range.

Momentum has expanded with the rally. The 4-hour Awesome Oscillator rose to 0.2332, its highest reading on the displayed chart, showing that short-term buying pressure remains stronger than the recent price trend.

What is driving the XRP rally?

The recovery followed President Donald Trump’s Aug. 19 meeting with crypto executives, including Ripple CEO Brad Garlinghouse. Trump called on Congress to pass what he described as a “fair version” of the Digital Asset Market Clarity Act.

The proposed legislation would establish a federal framework for digital assets and divide oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission. Its passage remains uncertain because Senate Republicans would need Democratic support to reach the required 60 votes.

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XRP may be particularly sensitive to the debate because Ripple spent years contesting the SEC’s claims over its token sales. A clearer statutory framework could reduce the policy uncertainty facing US exchanges and companies using digital assets, although Trump’s comments do not guarantee that Congress will pass the bill.

Broader liquidity conditions also supported the cryptocurrency market. The US Treasury raised the maximum size of planned buybacks for certain longer-dated government bonds from $2 billion to at least $4 billion per operation. The announcement initially weighed on long-term yields and the dollar, helping high-risk assets attract demand, though Treasury yields later recovered.

XRP-specific buying added to the move. Crypto analyst Ali Martinez, known as Ali Charts, said wallets tracked as whales acquired more than 300 million XRP in 96 hours. His Santiment-based chart showed their combined holdings rising from about 16 billion to nearly 16.3 billion tokens.

Ripple, Clearpool, and Cicada Partners also announced plans to build an institutional lending market on the XRP Ledger. The proposed system would use the RLUSD stablecoin and XRPL’s planned lending and single-asset vault features.

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The credit platform is still under development and depends on the relevant XRPL amendments. It should therefore be treated as a future network catalyst rather than active lending volume.

XRP technical indicators turn bullish

The daily chart recorded a bullish Supertrend reversal as XRP crossed $1.14. The indicator had remained bearish throughout most of the token’s decline from above $2.00 in January.

XRP’s daily Chaikin Money Flow also jumped to 0.17. A reading above zero indicates that buying volume is outweighing selling volume, supporting the price breakout with stronger capital inflows.

On the 4-hour chart, XRP trades well above its major moving averages. The 20-period simple moving average has risen to $1.12, while the 50-, 100-, and 200-period averages sit between $1.04 and $1.07.

The wide distance between the market price and those averages confirms the strength of the breakout but also raises the likelihood of short-term volatility. A rapid rally can leave limited support immediately below the price if buyers begin taking profits.

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The first support area sits between $1.34 and $1.35, where XRP consolidated after its initial spike. A deeper pullback could test $1.26, the upper boundary of the former resistance range.

The daily Supertrend level near $1.14 represents the broader bullish invalidation zone. Losing that level would place XRP back below its breakout structure and raise the risk of a decline toward the clustered moving averages around $1.04–$1.07.

Liquidation map points to $1.48

CoinGlass’s three-day XRP liquidation heatmap shows that price advanced through several clusters of short liquidation leverage between $1.10 and $1.40. Those forced closures likely added buying pressure as bearish traders repurchased XRP to cover their positions.

Remaining liquidity is concentrated above the market around $1.43–$1.45, followed by another band near $1.47–$1.48. A clean move above the intraday high could draw XRP toward those levels as exchanges close additional leveraged shorts.

The heatmap also shows large liquidity bands below the price. The closest clusters sit near $1.34, $1.29, and $1.26, while a heavier concentration appears between $1.20 and $1.22.

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Markets often move toward areas containing dense leveraged positions, but a liquidation map does not determine direction. If XRP fails to break $1.43, long positions opened during the rally could instead face pressure on a retreat toward the lower clusters.

Can XRP hold the breakout?

A daily close above $1.40 would strengthen the bullish case and leave $1.48 as the next technical and liquidity target. Clearing that zone could open a move toward $1.50, a psychological level that also contained several price reversals earlier in 2026.

The rally still carries downside risks. XRP has moved more than 35% from its weekly low in a short period, while the White House catalyst depends on a bill that remains subject to difficult Senate negotiations.

Continued whale accumulation, positive money flow, and support above $1.26 would provide stronger evidence that the advance is more than a short squeeze. Failure to hold that former resistance zone would expose $1.20 and, eventually, the daily Supertrend level near $1.14.

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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After years of stalled bills, misguided enforcement, and catastrophic collapses, almost any comprehensive crypto legislation began to look like progress. But Clarity is turning that hunger for progress into a political trap, argues Berkeley Law lecturer Hermine Wong.

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Three weeks of review turned up problems unrelated to the flaw that cost users $114 million, but updating still does not make a compromised wallet safe.

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Ethereum extended its rally after climbing by over 5% on Friday and touched $2,420 for the first time in months. With ETH now trading above $2,380, new data suggest that several signals aligned ahead of this sharp move.

The recovery has pushed the $4,700 resistance into focus, which could open the door for $10,000, $15,000, and $20,000 targets.

Next Big Test

According to Santiment’s latest analysis, the crowd sentiment on ETH hit a three-month low on August 17. Its seven-day weighted sentiment average fell to its lowest reading in at least three months and turned negative. Two days later, ETH shot up.

On August 18, Santiment’s eth_whale_dump anomaly fired once at roughly $7.55 million, compared with five events in each of the prior two weeks. ETH held on exchanges also fell to about 6.54 million coins, the lowest level of the stretch.

Then macro factors took over as the US Treasury expanded long-end bond buybacks, followed by a record wave of short liquidations. The analytics platform said that the negative crowd did not cause the rally, but it did leave a record pile of shorts in its path.

The breakout has prompted Michaël van de Poppe to expect further upside, although the MN Fund founder said that the crypto asset could see some consolidation after the recent move. He believes ETH can continue higher as long as it stays above $2,000. His short-term upside levels include $2,465 and potentially $2,900. The market commentator added that a higher high would signal the end of the bear market.

Higher Targets Come into Focus

Crypto Patel’s chart puts longer-term upside in focus. Ethereum has gained more than 55% from the $1,500 accumulation zone highlighted in Crypto Patel’s analysis. The $4,700 has now emerged as a key resistance and breakout point. If the asset clears it, the analysis points to potential targets of $10,000, $15,000, and $20,000.

Axel Bitblaze also saw a familiar setup in ETH’s latest move. The analyst noted that Ethereum also bottomed near $1,500 in April 2025 before spending weeks below $1,950 and then pushing toward $2,400. With the current price action following a similar path, the analyst expects some sideways trading and added that the token could see one more dip before making another move higher.

On the institutional side of things, US spot Ethereum ETFs are also drawing fresh capital. These funds added yet another positive sign for the asset. On August 20, total net inflows topped $220 million, just a day after logging $189 million.

The post ETH Rallied 30% After Sentiment Collapsed: Here’s the Level That Matters Next appeared first on CryptoPotato.

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MANTRA has halted its blockchain after an incident affecting its Cosmos EVM module, sending its native token to a new all-time low on August 21.

The team says two wallet addresses were affected, no user funds were exploited, and a patched release is being tested before a possible network restart later today.

MANTRA Freezes Chain as It Tests a Fix

MANTRA initially said it had halted the chain as a precaution while investigating an incident, with all endpoints and transactions frozen. Deposits and withdrawals to and from MANTRA Chain were also temporarily affected.

A status update later said the network remained halted while developers prepared and tested a remediation. Transactions, transfers and staking operations were unavailable, although MANTRA said user funds were unaffected by the halt itself.

The team has since identified the root cause, saying the incident was isolated to the Cosmos EVM module and affected two wallet addresses before the threat was contained.

“No user funds were exploited,” the team repeated.

They also said they had taken a full network snapshot before beginning the restart process. Its patched v8.4.0 release addresses the underlying vulnerability and is being tested on the DuKong testnet, with the project targeting a coordinated mainnet upgrade and restart later in the day, provided testing finishes cleanly.

Validators have also been told to keep their mainnet nodes offline until the restart is announced.

The native token, formerly known as OM, now trades under the MANTRA ticker after the project completed a 1:4 non-dilutive redenomination and ticker change in March this year, meaning holders received four MANTRA tokens for each former OM token without changing their overall value at the time of conversion.

After the chain was halted, the token plunged more than 18%, going from about $0.0050 to $0.0041 to set a new all-time low.

However, at the time of writing it had managed to claw back some of that value and was changing hands near $0.0046, which still put MANTRA about 82% below its March 4 all-time high of $0.02627.

OM Collapse Still Hangs Over MANTRA

Recall that OM fell from above $6 to below $1 in less than an hour on April 14, 2025, wiping out roughly 90% of its market value, with liquidations exceeding $70 million.

At the time, CEO John Patrick Mullin blamed the collapse on what he described as “reckless forced closures” by centralized exchanges.

The fallout continued into January 2026, when MANTRA announced staff cuts across several teams. The company said its rapid expansion through 2024 and early 2025 had left its cost base too high after a difficult market period and the events surrounding the token’s collapse. Mullin also pledged to burn 300 million OM tokens after the April 2025 crash, with the burn completed later that month.

MANTRA says a full post-mortem will follow. For now, the chain remains paused while the patched software undergoes testing, leaving users with limited information beyond the team’s update.

The post MANTRA Freezes Blockchain After Cosmos EVM Incident as Token Hits New Low appeared first on CryptoPotato.

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Two Solana meme coins climbed on Friday after a viral X (Twitter) post pulled a flood of token pitches into its replies. Jimothy The Raccoon (JIMOTHY) rose 41% in 24 hours.

Bullshit Coin (BULLSHIT), a Solana token built on self-aware jokes about meme coin culture, gained 21% over the same window. Neither move followed a project announcement.

How One X Post Moved Two Solana Meme Coins

Nate Esparza, a senior technical product manager for ads at SpaceXAI, wrote on Friday morning that the crypto community on X is “insane.”

SpaceXAI is the company Elon Musk formed in February by folding his artificial intelligence venture xAI into SpaceX.

The viral post saw traders answer with raccoon images, green bull graphics and direct pitches for their tokens.

JIMOTHY trades near $0.0096 with a market cap of about $9.7 million, according to Coingecko data. BULLSHIT sits near $0.0038.

Volume told the sharper story. BULLSHIT turned over roughly $4.7 million in 24 hours, more than its entire market value. Thin Solana meme coin markets often trade that way.

Meanwhile, the wider sector has leaned on the same loop all year. Attention arrives first and liquidity follows. Neither token carries a roadmap, a treasury or a product, which leaves social reach as the only visible driver.

Why the Jimothy Meme Keeps Pulling Bids

Jimothy is a real raccoon in Seattle’s Ballard neighborhood with short spine syndrome, a congenital condition that leaves him short and rounded. Marketing specialist Kiana Hall filmed him in July, and the clip drew millions of views.

City recognition, a mural and a token followed. The Solana token launch rode that fame to a 186% gain in July.

Musk has amplified the theme before. On August 8, he posted a raccoon video that sent JIMOTHY up 331% within hours. He has not posted about Friday’s exchange.

Friday’s move was smaller and arrived without him. That gap matters, because it suggests the reply machine now moves the Jimothy price chart without a headline account attached. Whether these gains survive the weekend will show how much of the bid was attention and how much was conviction.

The post SpaceXAI Manager Calls Crypto ‘Insane’: 2 Solana Meme Coins Jump Up to 40% appeared first on BeInCrypto.

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Bitcoin jumped roughly 25% to a two-month high above $77,000 within hours of the U.S. Treasury doubling its long-dated bonds buyback operations on August 19.

Falling Treasury yields triggered a short squeeze estimated $3.5 billion across crypto derivatives.

The move raises a pointed question: did Bitcoin catch a genuine liquidity tailwind, or trade a one-day signal that the bond market itself partially reversed within 24 hours?

Treasury Secretary Scott Bessent’s move came a day after the 30-year Treasury yield hit 5.34%, its highest level since 2007, amid a global bond selloff tied to inflation worries, an escalating U.S.-Israeli conflict with Iran, and mounting concern over the U.S. fiscal trajectory. Total U.S. debt outstanding crossed $40 trillion the same day the buyback announcement landed.

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What the Buyback Actually Buys

Treasury will double the size of its 10- to 30-year buyback operations to at least $4 billion per operation, up from $2 billion previously, effective September 9 through November 4.

That adds at least $14 billion of additional liquidity support this quarter, bringing maximum repurchases in the current window to $83 billion, measured against a $32.2 trillion Treasury market and $5.5 trillion in outstanding 20- and 30-year bonds.

The announcement worked in the way it was designed to, at least initially: the 30-year yield fell to 5.184% from Tuesday’s high, and the 10-year yield dropped roughly six basis points to 4.66%.

Dan Gottlander, global head of USD and CAD swaps trading at Citi, told Reuters the move would have a huge impact on the long end, though he cautioned that Treasury would still need to issue elsewhere to cover the shortfall.

“It does not change deficits, obviously, and if you are going to buy back the long end, you still will need to issue. They may issue more bills, or also in the five-year to 10-year sector.”

That distinction matters for anyone reading the move as quantitative easing. A Treasury buyback is financed by issuing new short-term bills to retire older, harder-to-trade long bonds, a refinancing operation that swaps one liability for another without expanding the money supply, unlike the Federal Reserve’s own bond purchases under QE, which credit new bank reserves into existence.

Conflating the two overstates how loose the operation actually makes financial conditions.

Discover: The Best Crypto to Diversify Your Portfolio

Why the Relief Didn’t Last

By August 20, Bessent said he might increase buyback sizes even further. “We’re going to increase the size of the buyback,” he said. “I would note that it could be more than the $4 billion per issue.” He argued that yields didn’t reflect the underlying strength of the economy, tying the spike partly to the Iran conflict.

The bond market wasn’t fully convinced. The 30-year yield climbed back to 5.24% by August 20, retracing roughly half of the prior day’s drop, while the dollar clawed back most of its post-announcement losses. According to Bit.com’s market analysis, Bitcoin gave back the $70,000 level within hours, settling into the high-$60,000s after Fed minutes reintroduced rate-hike risk.

Thomas Simons, chief U.S. economist at Jefferies, told Reuters the surprise buyback announcement broke with Treasury’s tradition of predictable debt issuance, calling the move “shot from the hip.”

Evercore ISI analysts framed it more charitably, crediting Bessent’s tactical skill in catching bond shorts off guard during thin August liquidity, but questioned whether the impact would hold given the “tidal wave” of maturing debt and deficits still to be financed.

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Bitcoin Just Traded a Policy Surprise: Kalshi Lets Traders Position Before the Next One Hits.

The Treasury buyback showed how fast crypto can reprice when a macro decision catches the market off guard. Bitcoin surged, shorts were squeezed, yields fell, and then part of the move unwound as the bond market reassessed what had actually changed.

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That distinction matters when the asset reaction is messy. Bitcoin can move on leverage, positioning, dollar strength, and liquidity all at once. An event market lets traders isolate the question they actually have conviction on.

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The post Treasury’s $14 Billion Buyback Triggered a $3.5 Billion Crypto Short Squeeze appeared first on Cryptonews.

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