Open interest in XRP futures has recovered to levels seen before the 2025 market crash on major platforms like Bybit and Binance, indicating renewed confidence among investors and increased leveraged activity and optimism. XRP surged 14.21% to $1.40, closing above its 50-day and 200-day exponential moving averages for the first time since a bearish death cross formed. This move was mainly driven by a Bitcoin short squeeze and broader crypto market liquidity, not XRP-specific factors. XRP rebounded from below $1.00 to above $1.60, gaining more than 60% in a week and outperforming Bitcoin and Ether as the broader market rallied. CoinMarketCap data on Aug. 22 showed about 280 of the top 300 cryptocurrencies advancing, including weekly gains for Ether, Solana, XRP, Bitcoin Cash, Dogecoin, Cardano, Avalanche and Chainlink. The rally followed the U.S. Treasury Department’s expanded long-term bond buyback program, expectations for lower yields and greater liquidity, and President Donald Trump’s support for advancing the CLARITY Act, a proposed U.S. crypto market-structure law. Short covering, futures liquidations, large-investor accumulation, ETF expectations and fund rotation amplified the move. Reported total crypto market capitalization figures differed, reaching $2.760 trillion in one account and $2.51 trillion in another. Analysts said the rebound may reflect positioning and policy expectations rather than a confirmed altcoin bull market, with Bitcoin’s ability to hold its roughly $68,977 200-day moving average and XRP’s ability to establish $1.50 support and absorb selling near $1.60 remaining important tests.