XRP rallied 22% in the last 24 hours to hit $1.26 as the broader crypto market rallied following two major announcements on Aug. 19. First, the U.S. Treasury said it is at least doubling the
XRP rallied 22% in the last 24 hours to hit $1.26 as the broader crypto market rallied following two major announcements on Aug. 19.
First, the U.S. Treasury said it is at least doubling the amount of longer-term government bond buybacks, which will increase market liquidity.
Related: World's second-largest bank boosts XRP holdings
Second, President Donald Trump reiterated his vision to turn the U.S. into a Bitcoin superpower. The president underlined his pro-crypto initiatives such as passing the GENIUS Act and urged the Congress to pass a "fair version" of the CLARITY Act.
Following these positive announcements, the total crypto market capitalization rose 8% in 24 hours to $2.5 trillion.
As XRP began rallying yesterday, popular crypto analyst Ali Martinez reminded the X community, "I told you!"
Ali was referring to the prediction he made on Aug. 9 in which he predicted a bullish rally for X. The cryptocurrency was trading at $1.04 back then.
That day, the analyst said he saw the Tom DeMark Sequential flashing a buy signal on XRP’s monthly chart.
The Tom DeMark Sequential is a technical indicator that tries to identify when a trend is running out of momentum and a reversal may be approaching. What it meant was a potential macro shift from bearish to bullish momentum.
As per Ali, the indicator has marked several major XRP reversals over the past six years, such as:
4/5 The key resistance to watch is $1.06.On-chain data shows nearly 3 billion XRP were transacted around this level. A monthly close above it could clear the way for $1.35, then potentially $1.64. pic.twitter.com/a7doWDQcBr
— Ali Charts (@alicharts) August 9, 2026
He also highlighted whales accumulating more than 380 million XRP over the past week and said they seem to be positioning for the macro turn.
Ali indicated that the key resistance level is $1.06, and if it surpasses the level, XRP could hit $1.35 and even potentially $1.64.
XRP/USD, Source: DecibelAs XRP rallied to $1.26, the cryptocurrency's price still falls short of Ali's target of $1.64.
