XRP climbs to $1.58 on the back of aggressive short covering, though the asset lags behind broader crypto market gains of 11% to 24% as regulatory uncertainty persists.
XRP rebounded 8% for the month despite the CLARITY Act failure, driven by short covering and positive ecosystem developments.
Bitcoin gained 11.1% over 30 days and saw $986 million in inflows, indicating stronger investor preference.
Ethereum rose 11.7% in 30 days, outperforming XRP in the same period.
Solana surged 23.6% over the month, leading the major cryptocurrencies mentioned.
Ripple's RLUSD stablecoin surpassed $2.4 billion in circulation, a positive adoption milestone but not market-moving.
XRP rebounded to $1.58 following a $300 million short squeeze, despite the failure of the CLARITY Act in the Senate. While the asset remains up 8% for the month, it continues to trail major peers like Solana and Bitcoin, which posted double-digit gains. Investors are now watching the $1.53 support level to determine if this recovery represents a sustainable trend or a temporary spike.
The rally was largely a technical move triggered by a short squeeze, where traders betting against the asset were forced to buy back positions, resulting in $300 million of short closures.