Given that XRP is known as the 'blockchain of banks', it should be one of the cryptocurrencies most benefited by the Genius Act.
Brad Garlinghouse, CEO of Ripple (XRP) at the American Congress. Source: Social media.
Ripple (XRP), the third largest cryptocurrency in the market, surpassed the $200 billion market value threshold for the first time in history this Thursday (17). Its price is at $3.50, also close to its historical peak of $3.84, recorded 8 years ago.
XRP was one of the cryptocurrencies that benefited the most from Trump's election and regulatory changes.
This is because Ripple was sued by the SEC during the Biden administration in 2020, facing years of pressure while other projects rose freely. Some investors even wanted to sue the Commission for intentional misconduct, negligence, and abuse.
XRP soars and approaches historical highs.
Data from TradingView shows that XRP was one of the main beneficiaries of the American elections. Since November 5, 2024, the date of the results, the cryptocurrency has appreciated about 600%.
Ripple (XRP) is in strong rise since the change of president in the USA. Source: TradingView.
After a price correction, XRP has risen strongly again this July. At the time of writing, the cryptocurrency is trading at $3.50.
Its market value has reached the mark of $200 billion for the first time in history.
XRP's market value surpasses the mark of $200 billion for the first time. Source: CoinMarketCap.
The recent rise is linked to the 'Genius Act', a US bill aimed at bringing regulatory clarity to the cryptocurrency market, especially for stablecoins.
On social media, Brad Garlinghouse, CEO of Ripple, commented on the approval of the project.
"The last major financial regulation law was passed 15 years ago in response to the 2008 financial crisis," wrote Garlinghouse. "Tomorrow, the signing of the GENIUS Act consolidates the future of the US as a leader in truly innovative financial technology – stablecoins."
"This is a historic moment and, personally, I am looking forward to everything that will come as a result of this transformative legislation."
The last major financial regulation bill was passed 15 years ago in response to the 2008 financial crisis.
Tomorrow, the signing of the GENIUS Act cements the US’s future in being a leader in truly innovative financial technology – stablecoins. This moment is a historic one, and… https://t.co/002tVEofWs— Brad Garlinghouse (@bgarlinghouse) July 17, 2025
Given that XRP is known as the 'blockchain of banks', due to its focus on solutions for traditional financial institutions, it should be one of the cryptocurrencies most benefited by the Genius Act.
In addition, the market also expects the SEC to approve XRP ETFs this year, which could attract a new group of investors.
XRP drives 'altcoin season'.
Due to the size of XRP, being the third largest cryptocurrency in the market, its rise is also influencing the 'altcoin season index' of CoinMarketCap.
The tool serves as a guide to show if the market is more interested in Bitcoin or the other thousands of cryptocurrencies. As the market value of cryptocurrencies reaches $1.5 trillion, the index has reached its highest level in the last 90 days.
With the rise of XRP, the altcoin season index reaches its highest level in the last 90 days. Source: CoinMarketCap.
Another cryptocurrency contributing to this is Ethereum, the second largest in the market.
While XRP has risen 22.1% in the last 7 days, ETH has gained 19.2% in the same period. Billion-dollar investments made by companies and record inflows into ETFs justify this price surge in Ethereum.