The cryptocurrency market has recently welcomed a significant turning point, with XRP becoming the focus. On July 18, the U.S. Securities and Exchange Commission (SEC) decided to fully withdraw its appeal against Ripple's programmatic sales after an urgent closed-door meeting. This decision marks the end of a four-year regulatory controversy, and the "non-security" nature of XRP has received final confirmation at the judicial level.

At the same time, the U.S. Congress passed the GENIUS Act with an overwhelming advantage of 308 votes in favor and 122 votes against. This act transfers the regulatory authority over stablecoins to the Department of the Treasury and the Office of the Comptroller of the Currency (OCC), which undoubtedly further weakens the SEC's influence in the cryptocurrency space. The cumulative effect of these two positive news items has made XRP one of the most attractive encryption assets in the eyes of institutional investors.

The market reacted quickly and strongly to this series of positive developments. On July 18th, the price of XRP saw a significant increase, with a rise of nearly 20%, making it the most outstanding asset in the entire encryption market. On-chain data further reflects the tremendous enthusiasm of investors for XRP, as within just one week, 2,743 large holders purchased a total of 1.4 billion XRP, setting a new historical high.

This crazy buying behavior has led to a rapid decline in the liquidity of XRP, while its market capitalization has climbed to 211.9 billion USD, firmly securing the third position in the cryptocurrency market capitalization rankings. From a technical analysis perspective, XRP's trend is also showing very positive signals, which further enhances investors' confidence.

However, despite the strong performance of XRP in the short term, investors should remain cautious. The cryptocurrency market has always been highly volatile, and changes in the regulatory environment may also bring unpredictable effects. Whether XRP can continue to sustain this growth momentum in the future remains to be seen.