The passage of the GENIUS Act marks a significant milestone for the US crypto industry. It is expected to spur innovation and increase institutional investment, leading to greater market stability.
How the GENIUS Act Affected XRP
Ripple's victory regarding the GENIUS Act has resulted in a substantial increase in XRP's market value. CEO Brad Garlinghouse described the law as a "game-changer for the US crypto industry." Recently, XRP has reached multi-year highs, with on-chain transaction volume jumping by 50% to $1.4 billion.
Rise of Institutional Investments in Ripple
Increased interest from institutional investors is evident, as XRP derivatives soared to nearly $11 billion in open interest. "We’re witnessing an unprecedented spike in XRPL activity, marking renewed confidence from both the developer ecosystem and institutional players," said David Schwartz, CTO of Ripple.
The Future of XRP and Ripple Amid New Changes
XRP's price appreciation parallels historical peaks observed during speculative cycles, but is now bolstered by legal and institutional foundations. Experts suggest this may lead to sustained market growth and innovation, as regulatory clarity can stabilize the market and encourage similar legislative efforts.
The GENIUS Act creates a favorable business environment for Ripple and enhances XRP's status in the market. Investor and developer confidence continues to rise, potentially securing the company's success in the long term.
