Crypto Market Surges: XRP Leads as Favorable US Policy Fuels Bullish Outlook

Cryptocurrency prices have swelled in recent weeks, buoyed by a confluence of favorable developments in Washington, D.C., renewed market exuberance, and positive macroeconomic trends. The total crypto market capitalization is now rapidly approaching the monumental $4 trillion milestone.

Leading the charge among the top 20 cryptocurrencies by market capitalization is XRP, which has seen an impressive gain of nearly 20% on the day and over 43% in the past week. Not to be outdone, the seminal meme token Dogecoin (DOGE) has also posted strong performances, rising 9.5% today and 19.5% over the last seven days, according to CoinGecko data.

Sean Dawson, Head of Research at Derive, an on-chain options platform, told that this resurgence is a direct result of "favourable U.S. government policy and well-timed institutional engagement [that] has resulted in blood rushing back into the crypto market."

Legislative Wins Propel Market Optimism

A significant driver of this bullish sentiment came on Thursday, when the U.S. House of Representatives passed a trio of pivotal crypto bills:

• The GENIUS Act: This crucial stablecoin bill has now cleared both the House and the Senate and is heading to President Trump’s desk for his signature. If signed into law as expected, it will establish a comprehensive framework for private companies to issue stablecoins under specified regulations, including stringent reserve requirements, independent audits, and transparency standards.
• The CLARITY Act: Designed to establish a broader regulatory framework for cryptocurrencies, this bill awaits Senate approval.
• The Anti-CBDC Surveillance State Act: This bill, also awaiting Senate approval, aims to prevent the Federal Reserve from issuing a central bank digital currency (CBDC).

This concerted legislative push marks a significant advancement in the Trump administration’s overarching goal of reshaping American crypto policy and firmly establishing the country as the "crypto capital of the world."

Macroeconomic Factors and Institutional Engagement

Beyond direct crypto legislation, Dawson highlighted the impact of President Trump’s "Big Beautiful Bill," which "extends previous tax cuts, in addition to boosting government spending." He explained that "An increase in government spending stokes fears of a possible debt crisis and inflation," leading investors to flock to alternative assets like crypto to outpace inflation.

Dawson also pointed to the "rapid rise of Ethereum corporate treasuries like Sharplink Gaming and Bitmine Immersion Technologies," indicating growing corporate adoption and institutional engagement in the crypto space.

Altcoins Surge: XRP and DOGE Lead the Pack

XRP, in particular, is experiencing a sharp uptick in new addresses joining its network. Research from Santiment views this as a bullish development, signifying a healthy inflow of new capital into the ecosystem.

Dawson attributes the recent outperformance of XRP and Dogecoin relative to their peers to their "higher beta to Bitcoin," which successfully attracts "speculative capital seeking amplified returns." However, he also cautioned that these assets are equally susceptible to steep corrections during market downturns.

Beyond the top performers, other altcoins are also witnessing significant gains, with Curve DAO ($CRV), Bonk ($BONK), and Hedera ($HBAR) all soaring more than 40% in the past week. Veteran trader Peter Brandt specifically noted Stellar (XLM) as one of the most "bullish charts" among top cryptocurrencies on Thursday, further highlighting the widespread positive sentiment across the altcoin market.

JUly 2025, Cryptoniteuae