XRP experienced a significant price surge, reaching an intraday high of $3.37, following the U.S. House of Representatives’ unofficial clearance of the CLARITY Act. This legislative move aims to establish definitive regulatory guidelines for cryptocurrencies, fueling market optimism about reduced regulatory ambiguity.
The bipartisan support exceeded expectations, with 71 Democrats joining the majority vote, signaling a notable shift in the political landscape regarding digital asset regulation. Bitcoin’s value simultaneously approached the $120,000 threshold as the broader market reacted to the prospects of enhanced regulatory certainty.
The legislation now progresses to the Senate for consideration. Concurrently, the House prepares to vote on the GENIUS Act, focused specifically on stablecoin oversight, underscoring ongoing efforts to build foundational crypto regulations. This congressional momentum marks a potential inflection point for the industry, potentially fostering a more mature and stable market ecosystem through formalized legal frameworks.