- XRP skyrockets to $3.66 following stablecoin regulation breakthrough.
- Genius Act approval fuels Ripple momentum and market-wide investor confidence.
- XRP futures surge as traders anticipate further bullish price action.
XRP soared to a new all-time high of $3.66 on Friday, July 18, during the early North American trading session, recording a sharp 7.82 percent intraday rally. The surge came amid increased investor confidence, heightened market activity, and a key regulatory breakthrough in the United States.
Daily trading volume for XRP surged by 102 percent, rising to approximately $23.2 billion. This upward movement increased the token’s fully diluted market capitalization to almost $345 billion, making it one of the strongest performances in the crypto world.
With volatility increasing, more than $66 million worth of XRP leveraged positions were liquidated on the biggest exchanges. Statistics indicate that close to $48M was absorbed by short sellers, indicating a strong bullish force in the market.
Also Read: This Similar Payment Token Has Outperformed XRP Beyond the Hype – Here’s How Much it Jumped
Genius Act Greenlight Triggers Bullish Sentiment
The spike in XRP’s price closely followed the US Congress’s approval of the Stablecoin Innovation and National Uniform Standards (GENIUS) Act. Having received a regulatory framework for stablecoins, the bill is presumed to be directed to the president’s desk for signature.
It is viewed as a seminal event in Ripple’s history, as this will help it establish Ripple USD (RLUSD) and expand its operations in the United States. Investors are also taking renewed interest in XRP as uncertainty on regulatory oversight is clarified.
Derivatives Market Data Shows Strengthening Bullish Bias
Futures market activity around XRP has surged in tandem with the price movement. According to Coinglass, XRP’s Open Interest recently crossed $10 billion, reflecting an influx of speculative capital and stronger market participation.
Moreover, the funding rate on XRP has been continually positive in the past weeks. This tells that traders are paying premiums to keep long positions, which in most segments is a sign of confidence in a long-term rising direction.
Anticipations also support the sentiment that the decade-long legal procedure between Ripple and the US SEC might be approaching its conclusion. Consequently, additional institutional actors are facing an elevated level of exposure to XRP to hedge their risks and even allocate their treasury.
Ethereum’s move over the $3,400 resistance and Bitcoin’s reduced dominance rate have, in the meantime, added to the optimism in the altcoin market. The consensus among financial analysts is that XRP is one of the major beneficiaries of the renewed capital inflows into alternative digital assets.
Conclusion
XRP’s climb to a new all-time high of $3.66 is the result of favorable regulatory momentum, strong market metrics, and rising institutional interest. With legal clarity advancing and trading activity expanding, XRP continues to attract bullish attention across the crypto landscape.
Also Read: Bitcoin (BTC) Steadies at $120K as XRP, Dogecoin (DOGE) Lead Gains in Altcoin Market Shake-Up
