XRP nears $200B market cap as price approaches record high
XRP is on the cusp of achieving a market capitalization milestone of $200 billion for the first time. After a notable surge this month, its market cap recently reached around $193.1 billion, positioning it just about $2.2 billion shy of its all-time peak from six months ago.
Key price and market movements
- July outperformance: XRP is up over 35% versus Bitcoin this month, outpacing even Ethereum, which has risen more than 25% in the same timeframe.
- Recent altcoin strength: Over the past 24 hours, XRP and ETH both climbed more than 8%, while Bitcoin displayed volatility, fluctuating between gains and losses.
- Cap dominance: XRP, along with ETH, now accounts for roughly 16% of the total crypto market cap.
Technical analysis and market structure
Analysts point to a bullish breakout from a descending triangle pattern, reinforced by strong volume and momentum indicators. XRP’s technical configuration shows a resemblance to its late-2024 fractal, during which its market cap more than doubled to approximately $195 billion by early 2025 — an indicator of potential continuation.
Based on this breakout, some projections suggest XRP could first reach about $212 billion in market cap by August. A subsequent move toward the 1.618 Fibonacci extension could push market cap to approximately $258 billion — a further gain of around 33% by year-end.
Altcoin rotation and investor sentiment
The current rise is part of a broader “alt‑season”, in which investors shift capital from Bitcoin to large-cap alternative tokens like XRP and ETH seeking higher returns. XRP’s rally coincides with increasing whale activity, growing volumes, and improved sentiment, which together suggest continued upside potential.
If momentum carries on its present trajectory, XRP is widely expected to surpass $200 billion in market cap this week. Technical targets remain at $212 billion in the near term, followed by the Fibonacci-driven target of $250–$260 billion in the medium term.
Still, analysts emphasize that while the structure is strong, crypto remains volatile, and there’s no guarantee the pattern will fully play out. Traders are watching closely for confirmation. In summary, XRP’s performance reflects a powerful blend of technical breakout, macro altcoin momentum, and broader market reallocation.
Source: Cointelegraph
U.S. enacts GENIUS Act: foundational stablecoin regulation heads to Trump’s desk
The U.S. is poised to cement a landmark shift in crypto oversight as President Trump is set to sign the GENIUS Act into law today. This legislation introduces the first comprehensive federal framework specifically targeting stablecoins, the U.S.–dollar–pegged digital tokens designed to minimize volatility.
The House passed the GENIUS Act on July 17, with a decisive 308–122 vote following strong Senate approval in June (68–30). This legislative push unfolded during a concerted “Crypto Week” that also advanced the CLARITY Act and the Anti‑CBDC Surveillance State Act, aimed at clarifying crypto classification and blocking a Federal Reserve digital dollar. The president and his administration have framed the effort as a bold step to make the U.S. the “crypto capital of the world”.
Under the GENIUS Act, stablecoin issuers must fully collateralize tokens with U.S. dollars or low-risk assets like Treasury bills, maintain proof of reserves, undergo regular audits, and register with federal or state regulators. The law also prohibits interest‑bearing token models, though third-party platforms may still offer yield through decentralized finance mechanisms.
Major financial institutions, JPMorgan, Bank of America, Citi, are reportedly preparing to enter the stablecoin sector now that clarity is neared. Tech giants like Amazon and Walmart are also exploring issuance, which could significantly reduce transaction fees.
Supporters hail the law as a watershed moment, offering both consumer protection and crypto innovation. However, critics, including Rep. Elizabeth Warren and Rep. Marjorie Taylor Greene, warn it could erode consumer protections and advance a path toward central bank overreach. Others question the absence of strong rules against conflicts of interest, particularly concerning Trump’s family’s crypto holdings.
The imminent signing spurred gains across digital markets: Bitcoin briefly topped $123,000, Ethereum climbed, and crypto‑focused stocks rallied. Regulatory clarity is expected to boost adoption, enhance stability, and attract global digital finance players. Yet analysts caution that legacy regulatory bodies still remain on alert for systemic risks stemming from rapid stablecoin expansion .
Source: Coincu
BlackRock’s Ethereum ETF hits $546M daily inflows
BlackRock’s iShares Ethereum Trust (ETHA) recently posted record-breaking daily net inflows, drawing $546.7 million. This surge occurred amid a broader rally in spot Ethereum ETFs, which netted $602 million in total inflows over the same 24‑hour period. For ETHA specifically, cumulative inflows since launch now total $7.66 billion, bringing its assets under management (AUM) to $8.47 billion. Across all U.S. spot Ethereum ETFs, combined AUM stands at roughly $17.32 billion, with inflows having persisted for 10 consecutive weeks.
A key catalyst for this momentum is BlackRock’s recent filing with the U.S. Securities and Exchange Commission (SEC) to introduce a staking feature for ETHA. This application, lodged under Nasdaq’s Rule 19b‑4, proposes that ETHA be permitted to stake “all or part” of its Ethereum holdings via vetted provider, via custodians like Coinbase, without pooling tokens across participants or assuming risks related to tracking errors or blockchain forks.
Other asset managers, including 21Shares, Grayscale, and Fidelity, have already submitted similar filings in recent months. If approved, it would mark a major breakthrough: no staking-enabled spot ETH ETFs have yet received regulatory clearance under the typical 1934 Exchange Act framework, though the SEC has indicated that staking may fall outside securities regulation.
SEC interest in these staking proposals has grown as the regulator develops new guidance to simplify approvals for crypto ETFs and has already dropped legal cases against staking providers like Coinbase and Kraken.
Meanwhile, the Ethereum ecosystem is experiencing significant price appreciation. ETH traded around $3,616, up ~5.3%over the prior day and 20.3% over the past week, reflecting investor optimism fueled partly by institutional inflows into Ethereum ETFs.
In summary:
- Record inflows: ETHA attracted a new daily high of $546.7 million, part of a broader $602 million inflow across spot ETH ETFs.
- Massive growth: ETHA’s AUM is now $8.47 billion, with other spot ETH ETFs adding to a $17.3 billion industry total.
- Staking proposal: BlackRock has applied to allow ETHA staking via Coinbase, mirroring moves by other fund managers. Approval would be a major industry milestone.
- Favourable SEC climate: Regulatory developments, including SEC’s relaxed posture on staking and possible expedited crypto ETF processes, are underpinning the optimism.
- Price boost: Ethereum recently traded around $3,616, gaining over 20% in a week supported in part by ETF-driven demand.
Source: Coinpaper