XRP Hits New All Time High as House Passes Bills, Including GENIUS Act

Crypto prices have swelled in recent weeks, bolstered by a favorable outcome in Washington, D.C., amid renewed market exuberance and favorable macroeconomic developments. XRP is leading the pack among the top 20 cryptos by market cap, up nearly 20% on the day and more than 43% in a week. Meanwhile, the seminal meme token Dogecoin is up 9.5% and 19.5% over the same periods, according to CoinGecko data.

Sean Dawson, Head of Research at Derive, an on-chain options platform, told Decrypt that the confluence of “favorable U.S. government policy and well-timed institutional engagement has resulted in blood rushing back into the crypto market.” On Thursday, the House of Representatives passed a trio of crypto bills. Among the bills passed, the GENIUS Act now heads for President Trump’s desk after clearing the Senate last month.  If signed into law as expected, it would establish a framework for private companies to issue stablecoins under specified regulations, including reserve requirements, audits, and transparency standards.

Additionally, the House also passed the CLARITY Act and the Anti-CBDC Surveillance State Act. The former is designed to establish a framework for cryptocy regulation, while the latter would prevent the Federal Reserve from issuing a central bank digital cy. Both bills await Senate approval before advancing to the President.

The legislative push marks a significant development in the U.S. President Donald Trump administration’s goal of reshaping American crypto policy and making the country a “crypto capital of the world.” Dawson said the passage of Trump’s Big Beautiful Bill, meanwhile, “extends previous tax cuts, in addition to boosting government spending.”