XRP achieved a significant milestone on July 18, surging to unprecedented price levels by surpassing its previous all-time high and reaching $3.64. This substantial rally was primarily fueled by a confluence of regulatory advancements in the United States, robust technical indicators, and considerable accumulation by large-scale investors, collectively signaling a new market phase for the digital asset.
- XRP reached a new all-time high of $3.64 on July 18.
- The U.S. House of Representatives approved the GENIUS Act on July 17, establishing a federal framework for stablecoins.
- This legislation is expected to pave the way for Ripple’s anticipated RLUSD stablecoin.
- XRP experienced a 9% gain immediately following news of the Act’s approval.
- Strong technical indicators, including a golden cross formation and expanding MACD, support XRP’s bullish momentum.
- Large investors have accumulated 2.2 billion XRP tokens ($7.6 billion) since July 1.
A pivotal driver for this rally was the approval of the GENIUS Act by the U.S. House of Representatives on July 17. This landmark legislation establishes a clear federal framework for stablecoins, a development widely viewed as paving the way for Ripple’s anticipated RLUSD stablecoin. Markets responded swiftly to the expected presidential signature from President Donald Trump, propelling XRP to an immediate 9% gain following the news. This legislative progress significantly alleviates regulatory uncertainty for Ripple, strategically positioning the company for broader adoption and enhanced utility within the global financial ecosystem.
Technical Confirmation and Capital Inflows
XRP’s bullish momentum is further underscored by a confluence of strong technical signals. A golden cross formation emerged as its MVRV ratio moved above its 200-day moving average—a pattern historically preceding significant price surges. While the Relative Strength Index (RSI) at 88.68 suggests potential overbought conditions, the Moving Average Convergence Divergence (MACD) histogram continues to expand, indicating robust upward momentum. The price decisively breached the $3.50 resistance, aligning with the 127.2% Fibonacci extension, with the next significant target identified at $4.55, the 161.8% Fibonacci level.
The current surge in XRP also aligns with an accelerating rotation of capital within the broader altcoin market. The CMC Altcoin Season Index has notably increased by 78.57% over the past 30 days, with XRP dominating a significant portion of these large capital inflows. On-chain data analyzed by market intelligence firm Ali Martinez reveals that addresses holding over 1 million XRP tokens have accumulated an additional 2.2 billion tokens—approximately $7.6 billion—since July 1, signaling strong institutional conviction and sustained buying pressure.
Outlook: Potential for Decoupling
While short-term consolidation might occur due to elevated Relative Strength Index (RSI) levels, XRP’s sustained rally is underpinned by robust fundamentals and significant macroeconomic catalysts. A potential resolution of Ripple’s long-standing legal dispute with the SEC this quarter could further solidify XRP’s market position, potentially enabling it to decouple from Bitcoin’s price trajectory and extend its record-setting ascent. With this formidable momentum, XRP is rapidly emerging as a standout performer in the current altcoin cycle.
Maxwell Reed is the first editor of Cryptovista360. He loves technology and finance, which led him to crypto. With a background in computer science and journalism, he simplifies digital currency complexities with storytelling and humor. Maxwell began following crypto early, staying updated with blockchain trends. He enjoys coffee, exploring tech, and discussing finance’s future. His motto: “Stay curious and keep learning.” Enjoy the journey with us!