XRP News Today: XRP Surges 18% to $3.66 on U.S. Crypto Bill Approval

On July 18, the cryptocurrency market witnessed notable shifts, with XRP, Ethereum, and Solana being the focal points. XRP's price soared to a new peak of $3.66 following the approval of three crypto-related bills in the U.S. House of Representatives, notably the GENIUS Act, which focuses on regulating stablecoins. This regulatory breakthrough bolstered investor confidence, driving XRP's price upward. However, by Friday, the price had slightly retreated to $3.44. Analysts suggest that if buying pressure persists, XRP could reach $4 in the near future, contingent on surpassing the $3.6 resistance level.

The approval of the GENIUS Act also had a broader impact on the overall crypto market, which surpassed the $4 trillion mark. This regulatory development, combined with reports that 401(k) plans might soon include crypto investments, contributed to the overall bullish sentiment. Ethereum, another major cryptocurrency, is also under scrutiny. According to a crypto founder, Ethereum is expected to drop to $2,500 within a year, indicating a 30% decline from its current value. This forecast contrasts with the optimistic outlook for Solana, which is projected to reach $500 a year from now, representing a 177% increase from its current value of $180.

Solana's price has recently broken through key resistance levels, and experts anticipate that the bullish momentum could drive it to $185 as wave 3 gains traction. On-chain data reveal significant whale activity, further supporting the bullish outlook for Solana. The overall market sentiment remains positive, with investors closely monitoring regulatory developments and market trends. The passage of the GENIUS Act and the potential for increased institutional investment in cryptocurrencies are expected to fuel further growth in the market. However, investors should remain vigilant and consider the potential risks associated with the volatile nature of the crypto market.