XRP is back in the spotlight, reaching a new all-time high of $3.66. This event was fueled by heightened investor interest and the anticipated signing of new legislation.
New XRP Record
XRP has reached a new all-time high of $3.66, surpassing the previous record of $3.40 set over eight years ago. The cryptocurrency has gained nearly 40% in the past week, raising its market capitalization to over $200 billion.
Impact of Legislative Initiatives
The growing interest in XRP is largely tied to expected changes in cryptocurrency regulation in the United States. The GENIUS Act, awaiting President Trump's signature, proposes a federal framework for stablecoins, with Ripple's RLUSD expected to be the core asset. The anticipation of this legislation has already led to an 18% rise in open interest in XRP derivatives, totaling $10.5 billion.
Other Legislative Efforts
In addition to the GENIUS Act, two other crypto bills are progressing: the CLARITY Act and the Anti-CBDC Act. The GENIUS Act received bipartisan support, passing with 308 votes in favor against 122 votes against. However, the CLARITY Act has yet to see action in the Senate.
The new XRP price achieved without ETF approval highlights the significance of legislative changes for cryptocurrency growth and anticipations for further investor interest.
