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XRP surges nearly 40% as bitcoin tops $79,000 in two-year best week
Bitcoin crossed $79,000 earlier Friday during its biggest weekly jump in two years, helping lift a broad set of altcoins, with XRP gaining 39% for the week.
A broad rally across crypto markets pushed XRP to lead gains, with the token up nearly 40% as bitcoin logged its biggest weekly rally in two years, crossing above $79,000 earlier Friday, according to The Block.
Alongside XRP, other major altcoins rose sharply, with HYPE, ZEC and LINK all up more than 30% during the same period, following bitcoin's move.
The Block cited analyst views that the rally may be supported by spot and ETF demand, while also noting conditions around the technical level of $70,000 as a potential gauge for whether this week’s momentum can persist.
In addition, The Block reported that analysts remain split on what initially sparked the move, with Bernstein pointing to the Treasury’s expanded buyback program as a liquidity catalyst, while MEXC Research argued the rally was premature and said markets may be giving the intervention too much credit.
Latest closeBitcoin $77,319.52 ▲5.9%|XRP $1.379 ▲8.8%