Key takeaways:
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XRP price surged 22% over the last 24 hours, reaching a new all-time high of $3.66.
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Favorable regulatory action in the US is adding tailwinds.
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Momentum indicators suggest XRP has more room to run: bull pennant targets $14.
XRP (XRP) price set a historic milestone, rising to its highest level on Friday as major cryptocurrency bills passed the US House and traders piled in.
XRP market cap passes $200 billion milestone
The XRP market cap has surged 12% over the last 24 hours and 63% in the last 30 days, surpassing the $210 billion mark for the first time to a record high of $216 billion on Friday.
XRP’s daily trading volume has also more than doubled on the day to $22.5 billion, reinforcing the intensity of the bulls.
Related: XRP price ‘highly rare’ setup eyes 60% gain past $3, veteran trader says
The derivatives market too saw its trading volume more than double over the last 24 hours to $48.44 billion while the open interest climbed to a new record of $10.98 billion.
The price gains were partially fueled by $73.17 million in short XRP position liquidations, compared to just over $29 million in long liquidations.
New crypto regulation boosts XRP price
XRP’s rally came as three key pieces of crypto legislation passed the US House of Representatives, with the GENIUS Act set to establish a federal framework for stablecoins.
This aligns with Ripple’s RLUSD stablecoin ambitions, boosting investor confidence.
🇺🇸 UPDATE: All three crypto bills have passed the House – CLARITY Act (294-134), GENIUS Act (308-122), and Anti-CBDC Act (219-210).
The GENIUS Act now heads to President Trump’s desk for signing tomorrow afternoon at the White House. pic.twitter.com/f42VfXuT59
— Cointelegraph (@Cointelegraph) July 17, 2025
Ripple’s application for a US banking license earlier this month, alongside a Federal Reserve master account, positions it for deeper integration into the financial system.
But already, institutional demand is growing as companies like VivoPower and Webus plan to purchase $421 million in XRP for their corporate treasuries.
Additionally, increasing speculation around potential US spot XRP exchange-traded fund (ETF) approvals, following the success of Bitcoin and Ethereum ETFs, is helping fuel optimism.
The odds of the US Securities and Exchange Commission…
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