XRP price steadily rises
XRP rose nearly 6% today, becoming the focus of the crypto market. The rise is attributed to the U.S. House of Representatives passing two key bills: the “GENIUS Act” stablecoin bill and the “CLARITY Act” regulatory clarity bill, both of which are seen as significant positives for the Ripple ecosystem.
Once this bill is officially legislated, the RLUSD stablecoin launched by Ripple will have the opportunity to become one of the first fully compliant regulated stablecoins, bringing greater liquidity bridging role to XRP and further strengthening its position in the field of international payments and asset exchanges.
The GENIUS Act is of great significance to Ripple.
The GENIUS Act will provide a nationwide regulatory framework for stablecoins, including provisions for 100% asset reserves, regular audits, and issuer licenses. Ripple has long initiated compliance preparations, applying to become a national trust bank and seeking a Federal Reserve account, with the century-old bank BNY Mellon serving as the custodian for RLUSD assets. This proactive approach not only positions Ripple to seize market opportunities but also further solidifies XRP’s key role in cross-border payments and instant asset conversion.
XRP price trend and market momentum
In recent weeks, XRP has made a strong breakthrough, with a price rise of over 32% within 30 days. Popular analyst Ali Martinez pointed out that if XRP can maintain its position above the $3 mark by the end of this week, the technical indicators will support its move towards the historical high of $4.8, with a potential increase of up to 60%. He stated on social media: “As long as XRP can hold above $3, it may open the channel to historical highs.”
(Source: ali_charts)
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summary
The long-standing regulatory dispute over XRP by the SEC may gradually fade with the implementation of the GENIUS Act, as the bill transfers oversight authority to the Treasury Department and the Office of the Comptroller of the Currency (OCC), further enhancing XRP’s market image as a “utility token” rather than a security. With regulatory advancements, the formation of the RLUSD implementation plan, and a persistently optimistic market sentiment, the possibility of XRP reaching new highs is rapidly accumulating.
