Big day for Ripple as RLUSD and XRP together trade up 72%

Even though the Crypto Week proved to be historic for the digital assets industry, analysts believe that the GENIUS Act that deals with stablecoin regulation contains little immediate positive news for the price of XRP.

On July 18, President Donald Trump signed the GENIUS Act into law. The legislation, which establishes a comprehensive federal framework for stablecoin payments that are backed 1:1 by U.S. dollars or Treasuries, has emerged at a time when XRP still remains in regulatory limbo.

Whether XRP is a security or a commodity can only be established with certainty if the CLARITY Act, another crypto-related bill, becomes law. As of writing, the CLARITY Act is passed with a bipartisan vote of 294-134 in the House.

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On the other hand, Ripple's strategic pivot to RLUSD comes at a time when stablecoins are dominating on-chain payments and institutional flows. Currently, with Circle's USDC and PayPal USD (PYUSD) leading the way in compliance and trust, Ripple aims to be viewed as a native and onshore liquidity provider.

As per the most recent data from CoinMarketCap, Circle currently maintains a market capitalization of $56 billion, while PYUSD is at $865 million. RLUSD's market cap stood at $527 million after a rise in its 24-hour trading volume by 42.59%.

However, trust in XRP remains solid.

XRP was trading at $3.63 at press time, down only 5.81% from its all-time high seen seven years ago at $3.84. XRP’s trading volume also sees an uptick of 30.77% in the last 24 hours.

Together, RLUSD and XRP saw a total jump of over 72% in a day.

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