The United States House of Representatives formally passed the landmark Digital Asset Market Structure Clarity Act (CLARITY), designed to address long-standing confusion over the classification of cryptocurrencies in the US financial system.
XRP climbed 6% to $3.06 after the GENIUS Act advanced in the US Congress, signaling growing regulatory clarity for cryptocurrencies. The proposed legislation would establish federal standards for stablecoins like Ripple's upcoming RLUSD.
Canary Capital CEO Stephen McLurg predicts that XRP exchange-traded funds (ETFs) may outperform Ethereum and Solana ETFs in terms of returns. He cited XRP's unique legal status and reliable payment functionality as key advantages.
Bitcoin slipped more than 3%, falling below the $118,000 level, after surpassing the $123,000 mark for the first time in history the day before. The sharp fall came amid profit taking by investors who had earlier entered the market anticipating progress in regulating the crypto industry in the US.
The sharp rise in XRP earlier this week caught the attention of the global cryptocurrency market. According to data cited by CryptoFrontNews, South Korean traders played a significant role in this price surge.
The NZD publication is expected
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