18.07.2025 05:57
XRP, the cryptocurrency associated with Ripple, experienced a remarkable surge, climbing nearly 20% in just 24 hours, reaching a peak price of $3.64 according to CoinGecko data. This significant price increase catapulted its market capitalization to an impressive $214 billion, rivaling the valuation of McDonald's and solidifying its position as the third-largest cryptocurrency. The surge followed a week of even more substantial growth, witnessing a 40% increase, outpacing even the robust performance of Ethereum.
This dramatic price action is largely attributed to the US House of Representatives' approval of crucial cryptocurrency regulations, specifically legislation that could significantly benefit the industry upon presidential signature. Ripple's CEO, Brad Garlinghouse, lauded the GENIUS Act, emphasizing its potential to position the US as a global leader in innovative financial technologies, particularly in the stablecoin sector. While XRP itself isn't a stablecoin and therefore isn't directly impacted by the GENIUS Act, Ripple's own stablecoin, RLUSD, will fall under this regulation. The anticipation of increased demand for RLUSD, which uses XRP for transaction fees, is seen as a key driver of XRP's price appreciation.
Despite the celebratory atmosphere surrounding this apparent all-time high (ATH), some analysts, like XRP investor Micah Paul, point out that XRP briefly reached $3.84 on certain exchanges back in January 2018. However, most prominent cryptocurrency tracking platforms, including CoinGecko, list the previous peak at approximately $3.40. Regardless of this minor discrepancy, the combined gains of XRP and Ethereum have propelled the overall cryptocurrency market capitalization past the $4 trillion mark for the first time, a landmark achievement confirmed by multiple data sources, including CoinGecko, CoinMarketCap, and TradingView, though minor variations exist in their reported figures. The impressive performance of XRP stands out amidst a generally positive trend among various altcoins.
