XRP Surges Past $3.60 Amid Crypto Legislation Buzz and Market Momentum
17% and is trading at $3.61 , inching closer to that psychologically significant $4 mark , a level it hasn't tested since its 2018 highs.
So, what’s fueling this rally? There are a few powerful drivers converging right now. First, we have the U.S. House of Representatives’ “Crypto Week” initiative. Lawmakers are actively discussing new bills aimed at regulating and legitimizing the cryptocurrency space. Three crypto-related bills just passed votes, and the market is seeing that as a strong signal that a clearer, more stable regulatory environment is on the horizon. For XRP, which has faced years of uncertainty due to its legal battles with the SEC, this kind of regulatory clarity could be game-changing.
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On top of that, we’re seeing bullish momentum across the broader market. Bitcoin just recently hit a new all-time high above $120k before pulling back slightly, and Ethereum is climbing too. This kind of broad-based optimism tends to lift all ships, and XRP is one of the biggest beneficiaries right now.
Technically, things are looking strong as well. XRP has built solid support above $3.45, and there's a bullish trend line forming that traders are watching closely. If the token can break through resistance around $3.66, it could quickly make a run toward $3.80 or even $4.00 in the short term. Futures data is also telling a bullish story — open interest has spiked to nearly $10 billion , the highest since 2021, and that shows traders are betting big on further gains.
Let’s not forget the macro backdrop either. There’s a lot of chatter about the Federal Reserve potentially cutting interest rates later this month. That kind of monetary easing tends to be a tailwind for speculative assets like crypto. Lower rates reduce the appeal of traditional savings and fixed-income investments, which often pushes more capital into high-risk, high-reward assets — like XRP.
Add to that the fact that large investors — the so-called “whales” — have scooped up more than 2.2 billion XRP in the past two weeks. That’s a massive vote of confidence, especially with Grayscale reportedly adding XRP to its Digital Large Cap Fund and talk of new leveraged ETFs in the U.S. market.
Of course, no rally is without its risks. XRP is approaching overbought territory based on technical indicators like the RSI, so we could see some consolidation or a short-term pullback. But all in all, the outlook remains impressively strong, especially with legislative support building and market sentiment so bullish.
So the big question now is: Can XRP break through and hold above $4? The next few days and the outcome of “Crypto Week” might be the catalyst we’ve been waiting for. Stay tuned — this could be just the beginning.
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