XRP News Today: XRP Hits New All-Time High at $3.66 on Regulatory Boost

XRP, the cryptocurrency associated with Ripple, has reached a new all-time high of $3.66, marking a significant milestone in its price trajectory. This surge in XRP's value has been driven by increased institutional interest and a general bullish sentiment in the cryptocurrency market. The price of XRP has shown remarkable momentum, closing above the key psychological level of $3 on Wednesday and rallying by 14.60% the following day. At the time of writing, XRP continues to trade higher, reaching its new all-time high of $3.66. This upward trend suggests that XRP could extend its rally toward its 141.40% Fibonacci extension level at $4.13, drawn from the January high of $3.40 to the April low of $1.61. However, traders should be cautious as the Relative Strength Index (RSI) indicator on the daily chart reads 89, indicating an extreme overbought condition. Despite this, the Moving Average Convergence Divergence (MACD) indicator suggests further gains for XRP ahead. If XRP faces a correction, it could extend the decline to find support around its daily level at $3.40.

The surge in XRP's price is closely linked to the approval of the Stablecoin Innovation and National Uniform Standards (GENIUS) Act by the US Congress. This regulatory breakthrough is expected to provide a clear framework for stablecoins, which is seen as a significant development for Ripple. The approval of the GENIUS Act is anticipated to help Ripple establish Ripple USD (RLUSD) and expand its operations in the United States. This regulatory clarity has renewed investor interest in XRP, as it reduces uncertainty regarding regulatory oversight. The approval of the GENIUS Act is viewed as a seminal event in Ripple’s history, as it paves the way for the establishment of Ripple USD (RLUSD) and the expansion of its operations in the United States. Investors are also taking renewed interest in XRP as uncertainty on regulatory oversight is clarified.

Derivatives market data further supports the bullish sentiment surrounding XRP. The Open Interest for XRP futures recently crossed $10 billion, reflecting an influx of speculative capital and stronger market participation. Additionally, the funding rate on XRP has been continually positive in recent weeks, indicating that traders are paying premiums to keep long positions. This is generally seen as a sign of confidence in a long-term rising direction. The anticipation that the decade-long legal procedure between Ripple and the US SEC might be approaching its conclusion has also contributed to the bullish sentiment. Consequently, additional institutional actors are facing an elevated level of exposure to XRP to hedge their risks and even allocate their treasury.

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. The surge in XRP's price is not an isolated event but part of a broader trend in the cryptocurrency market. Other cryptocurrencies, such as Cardano (ADA), have also experienced notable surges. ADA, for instance, has seen a 15.55% increase in the last 24 hours, bringing its value to $0.8699. This surge comes alongside a nearly 100% volume surge, indicating heightened market activity and interest in the cryptocurrency. The price of ADA has also seen a 24.88% increase on the week, suggesting a strong bullish momentum. The market capitalization has grown to $30.78 billion. The catalyst for this surge includes a mix of ETF optimism, Grayscale’s increased ADA allocation, and a broader altcoin rotation that’s putting high-beta assets back in focus. Cardano’s breakout above the psychological resistance at $0.83 marks a crucial bullish shift. The 4-hour chart shows strong follow-through with tight Bollinger Band expansion, which further confirms the price volatility on the upside. Current resistance lies at $0.88–$0.90, but with momentum intact and RSI still at 76.69, the market could push ADA towards the $1 psychological barrier over the weekend. That being said, short-term supports are firming up at $0.76, with a deeper safety net around $0.655. The Bollinger Bands’ middle line (20-SMA) at $0.7678 also acts as dynamic support in case of minor corrections. On the daily timeframe, ADA has confirmed a breakout from a long-standing descending channel. The next major technical target for Cardano lies at $1.17, a resistance level marked from February’s failed rally. The daily RSI at 83.06 signals ADA is in overbought territory, which may lead to short-term pullbacks. However, as long as the price sustains above $0.83–$0.85, the bias remains bullish. Despite the analyst's forecast that ADA price is expected to have a -4.81% decrease and drop as low as by July 19, 2025, the current price surge has fueled speculation that ADA could hit $1 in the next 24 hours. The market sentiment surrounding ADA remains optimistic, with traders and investors closely monitoring its price movements. If ADA continues its upward trend, it could potentially reach the $1 mark, marking a significant milestone for the cryptocurrency. However, traders should be cautious as the market is volatile and subject to sudden price swings.