18.07.2025 15:25
XRP's price experienced a remarkable surge, reaching $3.54, a 12.38% increase over 24 hours and a substantial 36.79% gain over the past week. This dramatic upswing propelled its 24-hour trading volume on Coinbase to a staggering $1.38 billion, briefly making it the platform's most actively traded asset. The increased market capitalization, exceeding $216 billion, solidified XRP's position as the third-largest digital asset, surpassing Tether in market cap.
Fueling this explosive growth was significant trading activity, primarily originating from South Korea and the United States, according to data from CoinMarketCap. In South Korea, Upbit, a leading cryptocurrency exchange, saw XRP account for over one-third of its total trading volume. This surge in spot trading was complemented by a parallel increase in derivatives activity, with XRP futures markets reporting a daily volume exceeding $48.44 billion and a record-high open interest of $10.98 billion. The liquidation of $73.17 million in short positions, significantly outweighing the $29 million in long positions liquidated, further amplified the price increase. Overall market-wide daily trading volume for XRP more than doubled, reaching $22.5 billion.
Contributing to this bullish sentiment, crypto analyst Dom highlighted robust spot market activity in the United States, with considerable buying pressure observed on major exchanges like Coinbase and Kraken. Dom attributed this partly to a surge in retail investor participation, noting that XRP's relatively low price creates a psychological advantage, making it more attractive to buyers.
The timing of this XRP rally is noteworthy, coinciding closely with the U.S. House of Representatives' passage of two landmark cryptocurrency bills: the GENIUS Act and the Digital Asset Market CLARITY Act. These bills, enjoying strong bipartisan support, aim to provide much-needed regulatory clarity, specifically addressing stablecoin reserves and oversight. By offering explicit regulatory frameworks, these acts potentially alleviate the legal uncertainty that has historically surrounded XRP's classification under American securities law. The GENIUS Act mandates a one-to-one dollar reserve for stablecoin issuers and strengthens transparency requirements, while the CLARITY Act further clarifies the regulatory landscape.
