XRP Surges 40% Over Past Week Amid Short Squeeze Debate and Unusual Signals

XRP rose 40% over the past week, sparking debate over whether the move is a short squeeze or the beginning of a much larger crypto expansion. Cryptoinsightuk noted recent levels as one of the strongest accumulation opportunities but questioned the move's underlying strength, pointing to expanding global money supply, unconventional monetary policy and geopolitical tensions as potential drivers for higher prices. Santiment's Aug. 20 weekly anomaly report showed XRP triggering three separate signals including a social dominance spike, project in trends and old coins moved, with its trend score surging to 293.64. Social dominance spiked while sentiment dropped to -1.85, the most negative reading among the assets. Roughly 1.1% of XRP's circulating supply moved after remaining untouched for an average of about 519 days, though exchange volume stood at $928.9 million without abnormal levels. Institutional demand weakened, with weekly net inflows into U.S. spot XRP funds plunging 93% to $1.01 million for the week ending Aug. 8.

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