Ripple Gains Momentum as Senate Debates Drive XRP Higher
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Ripple is experiencing significant developments across multiple fronts, with major legislative discussions and key business partnerships positioning the cryptocurrency for potential growth.
Recent events highlight how regulatory clarity and institutional adoption continue to shape XRP’s trajectory in the current market environment.
Ripple CEO Takes Center Stage in Senate Digital Asset Hearings
Ripple CEO Brad Garlinghouse testified before the Senate Banking Committee on July 9, 2025, as part of the “From Wall Street to Web3: Building Tomorrow’s Digital Asset Markets” hearing. The testimony represents a significant shift for Ripple, moving from courtroom battles to active participation in regulatory discussions.
I am honored to be invited to testify in front of the Senate Banking Committee this Wednesday on the need for passing crypto market structure legislation. Thank you to @BankingGOP Chairman @SenatorTimScott, @SenLummis and @SenRubenGallego (as leaders of the Subcommittee for…
— Brad Garlinghouse (@bgarlinghouse) July 7, 2025
The Senate is examining whether tokens like XRP qualify as digital commodities under US law, focusing on their fundamental characteristics and similarities to traditional commodities. This classification could open doors for XRP exchange-traded funds and increase institutional investment opportunities.
Two key pieces of legislation are central to current debates: the GENIUS Act, which establishes stablecoin frameworks including reserve requirements and federal licensing.
The second is the CLARITY Act, which would assign primary oversight of most digital assets to the Commodity Futures Trading Commission while reducing the SEC’s role.
Congressional discussions include proposals to exempt capital gains taxes on crypto transactions under $300, with a yearly cap of $5,000. This change aims to enable everyday crypto use without tax penalties.
Additionally, lawmakers are considering deferring taxation of staking and mining rewards until assets are sold or spent.
These tax modifications could significantly impact how Americans interact with cryptocurrencies like XRP, potentially increasing adoption for daily transactions and payments.
RLUSD Stablecoin Reaches Major Milestones
Ripple’s RLUSD stablecoin has integrated with Transak, a major cryptocurrency payments platform serving 8.3 million users. The integration enables RLUSD purchases using multiple fiat currencies across 64 countries, including the United States, United Kingdom, and European Union.
RLUSD’s market capitalization reached $500 million for the first time, representing a 62% surge since early June. The stablecoin launched in late 2024 and has achieved this milestone in less than seven months.
Ripple appointed BNY Mellon as the primary custodian for RLUSD reserves, marking a significant institutional partnership.
Currently, approximately 87% of RLUSD activity occurs on Ethereum, though analysts suggest long-term value lies in its native presence on the XRP Ledger.
Trump Administration ETF Developments
In related development, Trump’s Truth Social has filed SEC registration documents for a “Crypto Blue Chip” ETF that would include XRP alongside Bitcoin, Ethereum, Solana, and Cronos. The proposed allocation includes 2% XRP, with the fund intended for trading on the New York Stock Exchange Arca.
These regulatory and business developments demonstrate Ripple’s growing integration into traditional financial systems. As legislative clarity improves and institutional partnerships expand, XRP continues building infrastructure for broader cryptocurrency adoption across multiple sectors.
XRP’s Market Performance and Technical Analysis
XRP has surged more than 12% over the past week, climbing from $2.148 to $2.429 following the BNY Mellon partnership announcement. Technical analysis suggests XRP has broken above key resistance levels, with potential targets reaching $2.640 or even $2.950 if current momentum continues.
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