XRP extended its rally on Thursday, trading around $1.14 after gaining more than 11% on Wednesday and outperforming Bitcoin over the previous 24 hours. The move followed the US Department of the Treasury’s decision to double some longer-dated Treasury buyback operations from $2 billion to at least $4 billion per operation, improving liquidity and risk appetite. The announcement helped trigger a crypto-wide short squeeze, with 172,642 traders liquidated and total liquidations exceeding $3.21 billion, including $120.71 million in XRP. XRP remains above its 50-day EMA at $1.076 but below the 100-day and 200-day EMAs at $1.153 and $1.338. A break above $1.153 could open a move toward $1.300 and $1.338, while $1.076, $1.000 and $0.995 form key support. The RSI near 63 and MACD above zero support near-term bullish momentum, but a break below $0.995 would weaken the outlook.