$XRP Price Impact If GENIUS Act Boosts Ripple’s RLUSD Market Cap to 50% of Tether’s $150B
Ripple (XRP) is on the verge of an uptrend after Senator Bill Hagerty noted that the GENIUS stablecoin act will get Senate greenlight next week.
Once this bill passes, it will have a notable impact on US-made stablecoins like RLUSD. However, can RLUSD attain 50% of Tether’s $150 billion market cap, and if it does, how will it impact XRP price?
XRP trades at $2.34 today after a 3.4% decline in 24 hours. Trading volumes were also down by 39% in 24 hours, according to data from CoinMarketCap.
Ripple’s RLUSD currently has a market cap of $313 million, and 2.66K holders.
At press time, the dollar-pegged stablecoin posted $59 million in intraday trading volumes, significantly lower than Tether’s volumes of $66 billion.
However, RLUSD is about to gain a competitive edge over Tether’s USDT and likely support an XRP price recovery. US Senator Bill Hagerty noted that the US Senate will pass the GENIUS Act next week.
Per the legislator, this bill will pave the way for the adoption of payment stablecoins.
This act may be the catalyst for a Ripple price rally by boosting the adoption of RLUSD.
If this stablecoin can reach half of Tether’s $150 billion market cap, Ripple’s price will likely surpass $3 and aim for fresh all-time highs.
This bullish XRP price forecast is supported by historical data. In December 2024, after Ripple received regulatory approval for RLUSD, XRP’s price surged by over 70% in barely a month.
A 30% rally from the current price of $2.37 will push Ripple to $4.