XRP Leads Top 10 Crypto Rally With $1.60 Resistance In Focus

XRP (XRP) surged as much as 14.21% to $1.40, closing above two key moving averages for the first time since its August death cross formed.

Key Points:

• XRP gained as much as 14.21% in 24 hours and 40.06% over the past week.
• The daily candle closed above the 50-day and 200-day EMAs, but the death cross itself has not reversed.
• Resistance sits at $1.43 and $1.60, while momentum indicators show a stretched rally.

XRP Breakout

Decrypt reported Aug. 21 that XRP opened Friday at $1.2681, reached $1.43 and traded near $1.40, leaving the daily candle up 10.52%. The broader 24-hour gain made XRP the strongest performer among the 10 largest cryptocurrencies by market value.

The move outpaced Bitcoin (BTC), up 7.44%, and Ethereum (ETH), up 4.50%. Bitcoin traded above $77,000 after reaching an intraday high of $79,000 during a short squeeze that lifted the wider crypto market.

Friday's close carried more technical weight because XRP finished above both its 50-day and 200-day exponential moving averages for the first time since the bearish crossover formed. The 50-day EMA remains below the 200-day line, so traders have not yet received a confirming golden cross.

Bitcoin Liquidity

XRP's breakout followed the same rally that pushed Bitcoin higher after the U.S. Treasury announced larger long-dated bond buybacks beginning Sept. 9. The backdrop also included a $275 million bond sale linked to Ripple and new SEC crypto exemption rules.