Bitcoin Tops $63K as XRP Leads Crypto Rally With 10% Weekly Gain

Bitcoin climbed above $63,000 during U.S. trading hours on Saturday, extending its recent recovery and reaching its highest level in two weeks. According to CoinDesk data, the world's largest cryptocurrency gained 1.4% over the past 24 hours and 3.6% for the week, completely erasing the losses recorded at the end of June.

XRP emerged as the strongest performer among major cryptocurrencies, rising 5.3% on the day to $1.18. The token has now advanced nearly 10% over the past seven days, pushing its market capitalization to approximately $73 billion and allowing it to overtake USDC as the fifth-largest cryptocurrency by market value.

The latest XRP rally comes as on-chain metrics indicate that XRP holders are experiencing their deepest average unrealized losses on record. Some market participants view such extreme bearish positioning as a potential buying opportunity, helping fuel renewed investor interest.

Ethereum also posted solid gains, climbing 3.2% to around $1,793 and delivering an 11.5% weekly increase. Dogecoin advanced 2.6%, while Solana traded near $82.50 after recording an impressive 13.2% gain over the past week, reflecting broad strength across the cryptocurrency market.

The crypto market's rebound has been supported by improving macroeconomic sentiment. Investors reacted positively after Federal Reserve Chair Kevin Warsh suggested that inflation risks have eased. A weaker-than-expected U.S. June jobs report also strengthened expectations for a more accommodative monetary policy, while short-covering by bearish traders accelerated Bitcoin's recovery from below $60,000 to above $63,000 within five trading sessions.

Despite the strong performance, trading activity remained relatively light as U.S. financial markets were closed for the Independence Day holiday. Lower liquidity often amplifies price swings, making both rallies and pullbacks more pronounced.

Bitcoin entered the third quarter after touching its lowest level in 21 months but has since recovered all of the losses suffered during June's final decline. Investors are now closely watching upcoming U.S. inflation data and the return of full trading activity after the holiday. Those developments are expected to play a key role in determining whether Bitcoin and the broader cryptocurrency market can sustain their current upward momentum.