XRP Explodes 40% in a Week. Can It Hit a New High by September 15?

XRP experienced a 40% surge within a week, driven by the US Treasury doubling its long-term bond buybacks. This led to a crypto rally, wiping out $1.4 billion in short positions. Goldman Sachs now holds $86.5 million worth of XRP ETFs after selling its entire position a quarter ago. To reach its all-time high, XRP would need a staggering 172% gain in just 25 days, a feat it has only accomplished six times in 13 years.

The Senate is set to vote on September 15 regarding the CLARITY Act, which would classify XRP as a commodity and settle its legal status. However, this vote is not likely to be the catalyst needed for XRP to reach its record high of $3.84 within the next 25 days.