XRP News Today: XRP Surges 71.75% in 30 Days, Market Cap Nears $200 Billion

XRP, the cryptocurrency associated with Ripple, has recently achieved a significant milestone by surpassing a market capitalization of $200 billion. This surge marks a substantial increase of 71.75% over the past 30 days, bringing its market cap to $193.10 billion on Thursday. This figure is just $2.18 billion short of its all-time high, which was recorded six months ago. The price of XRP has also shown impressive gains against Bitcoin, rising by over 35% in July. This performance is notable as it outpaces Ether, the second-largest cryptocurrency by market capitalization, which has increased by over 25% against Bitcoin during the same period. Together, XRP and Ether make up around 16% of the total crypto market, contributing to the ongoing "altseason" narrative where traders shift capital from Bitcoin to altcoins in search of higher returns.

Recent market movements indicate a shift towards top-cap altcoins, with both Ether and XRP rising by over 8% in the past 24 hours, while Bitcoin has fluctuated between intraday profits and losses. This trend suggests that traders are increasingly favoring altcoins over Bitcoin, which could further boost XRP's market capitalization. The current price action of XRP mirrors its late-2024 setup, when it entered overbought territory on the relative strength index (RSI) and remained elevated for several weeks. During that period, XRP's market capitalization soared over 200%, peaking at around $195 billion by early 2025. The recent breakout of XRP bears a striking resemblance to this pattern, with the cryptocurrency breaking out of a multimonth descending triangle supported by rising volume and momentum indicators. If this pattern continues, XRP's market capitalization could extend toward the triangle’s upside target at around $212 billion for August. A successful push beyond this level would open the door to the 1.618 Fibonacci extension level, aligning approximately $258 billion, up 33% from current levels, by the year’s end.

XRP has experienced a significant surge, rising 14% in just 24 hours to surpass $3.5, which has boosted its market capitalization to $206 billion, solidifying its status as the third-largest crypto. This price increase follows the recent passage of the GENIUS stablecoin bill in the US House of Representatives, along with reports that Trump is contemplating an executive order to allow crypto assets and other alternative investments into the $9 trillion US retirement market. The anticipated enactment of the GENIUS Act is expected to enhance the adoption of RLUSD, potentially giving Ripple a competitive edge in the regulated stablecoin market. In addition to the legislative developments, the Financial Times reported that Trump is considering an executive order aimed at opening the US retirement market to crypto, gold, private equity, and other alternative investments. This order would direct regulators to eliminate barriers preventing these asset classes from being included in professionally managed retirement portfolios.

XRP’s upward trend began on Wednesday when the House set terms for debate on three crypto-related bills, including the GENIUS Act, which is particularly significant for Ripple’s stablecoin initiatives. The GENIUS Act establishes a federal regulatory framework for payment stablecoins, requiring full reserve backing, regular audits, and licensed issuance. Ripple has proactively aligned its RLUSD stablecoin with these new regulations by applying for a national trust bank charter, seeking a Federal Reserve master account, and partnering with BNY Mellon as a qualified custodian for reserves. The surge in XRP's market capitalization has been fueled by several factors, including technical breakouts, rising volume, and investor sentiment. The cryptocurrency recently reached a new all-time high, surpassing $3.65, and its market capitalization has soared past $200 billion. This explosive rally has been driven by Ripple's legal progress, ETF speculation, and a Dubai tokenization deal. Analysts are optimistic about XRP's continued rally, predicting that it could reach $4 in the coming weeks. This bullish outlook is supported by rising whale volumes and other technical indicators. The recent price surge has pushed XRP past its previous all-time high of $3.40, with a market cap now surpassing $200 billion. This milestone is a testament to the growing confidence in XRP and its potential as a leading cryptocurrency.