‘Blood Rushing Back’ Into Crypto as XRP, Dogecoin Soar

Key Points

1. XRP has surged over 43% in a week, while Dogecoin is up 9.5% and 19.5% over the same periods.

2. The House of Representatives passed three crypto bills, including the GENIUS Act, which aims to establish a regulatory framework for private crypto requirements, audits, and transparency standards.

3. The CLARITY Act and the Anti-CBDC Surveillance State Act were also passed, with the latter preventing the Federal Reserve from issuing a central bank digital currency (CBDC).

4. Analysts attribute the crypto market rally to favorable U.S. government policies, increased institutional interest, and higher risk appetite among investors.

5. Other altcoins like Curve DAO, Bonk, and Hedera have also seen gains exceeding 40% in the past week.