XRP has experienced a significant surge, rising 14% in just 24 hours to surpass $3.5, which has boosted its market capitalization to $206 billion, solidifying its status as the third-largest crypto, as reported by CoinMarketCap. Over the past week, XRP has outperformed Bitcoin, increasing by over 35% compared to Bitcoin’s modest 3% gain.
This price increase follows the recent passage of the GENIUS stablecoin bill in the US House of Representatives, along with reports that former President Trump is contemplating an executive order to allow crypto assets and other alternative investments into the $9 trillion US retirement market.
XRP’s upward trend began on Wednesday when the House set terms for debate on three crypto-related bills, including the GENIUS Act, which is particularly significant for Ripple’s stablecoin initiatives. The GENIUS Act establishes a federal regulatory framework for payment stablecoins, requiring full reserve backing, regular audits, and licensed issuance.
Ripple has proactively aligned its RLUSD stablecoin with these new regulations by applying for a national trust bank charter, seeking a Federal Reserve master account, and partnering with BNY Mellon as a qualified custodian for reserves.
The anticipated enactment of the GENIUS Act is expected to enhance the adoption of RLUSD, potentially giving Ripple a competitive edge in the regulated stablecoin market.
In addition to the legislative developments, the Financial Times reported that Trump is considering an executive order aimed at opening the US retirement market to crypto, gold, private equity, and other alternative investments. This order would direct regulators to eliminate barriers preventing these asset classes from being included in professionally managed retirement portfolios.
