Ripple’s XRP $3.65 Milestone: Congressional Approval of Crypto Bills Sparks All-Time High Breakout
Main Idea
Ripple's XRP token reached a new all-time high of $3.65 following the U.S. House of Representatives' approval of two crypto-focused bills, the GENIUS Act and the CLARITY Act, which aim to reduce regulatory ambiguity and improve market stability.
Key Points
1. XRP price surged to $3.65, surpassing its previous all-time high of $3.40, following the passage of the GENIUS Act and CLARITY Act.
2. The GENIUS Act aims to establish a federally regulated stablecoin system, while the CLARITY Act focuses on improving disclosures, licensing, and consumer security in the crypto market.
3. XRP derivatives open interest increased by 18% to over $10.5 billion, and trading volume rose nearly 140% to $39.6 billion.
4. The legislative progress has reduced regulatory uncertainty for XRP, which has been involved in a long-standing legal dispute with the SEC.
5. Crypto experts believe XRP's price surge is driven by anticipation of regulatory clarity, positioning it as a key altcoin to watch.
Description
Ripple’s XRP has broken its all-time high, reaching $3.65 after the U.S House of Reps passed two major crypto-focused legislative bills.
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