Crypto wrap: ETH, XRP and LTC see gains as Trump signs GENIUS Act into law
2025-07-18 19:36:18
Main Idea
The cryptocurrency market, including Ethereum, XRP, and Litecoin, saw gains as President Trump signed the GENIUS Act into law, marking a regulatory milestone for the crypto industry.
Key Points
1. Ethereum (ETH), XRP, and Litecoin (LTC) experienced price increases following the signing of the GENIUS Act on July 18, 2025.
2. The GENIUS Act, passed by the US House of Representatives with a vote of 308 to 122, is seen as landmark legislation for the crypto industry.
3. Ethereum's price surge was driven by ETF inflows and positive sentiment around the GENIUS Act, with analysts predicting it could rise above $5k.
4. XRP reached a new all-time high of $3.65, with its market capitalization surpassing $204 billion, partly due to the GENIUS Act and spot ETF catalysts.
5. Litecoin's gains were less pronounced compared to Ethereum and XRP, but it remains a notable performer in the crypto market.
Description
The cryptocurrency market continues to hover bullish even as Bitcoin (BTC) pare gains after reaching a new all-time high around $123k. While BTC experienced significant profit-taking pressure, Ethereum, XRP, and Litecoin traded among the top gainers in the largest cryptocurrencies by market cap, with bullish sentiment heightened by the historic passage of the GENIUS Act.
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