XRP jumped 15.04% to $1.16 over the past 24 hours, with trading volume exploding 392.81% to $4.22 billion. The move came as Bitcoin rebounded above $71,000, and traders pointed to a proposed digital-asset bill in Washington as the spark for the broad rally.
The 15% pop
XRP's climb was the sharpest among major coins. The token had been drifting for weeks, so this kind of single-day move stands out. It pushed XRP's market cap up with it, though the exact figure wasn't immediately available. The gain came on heavy volume, which suggests real buying rather than a thin-market blip.
Volume floods in
Volume nearly quintupled. $4.22 billion changed hands in a day, a level not seen since the early summer. That kind of participation usually means institutional money is moving, not just retail speculation. The spike also helped push XRP's price through a resistance level that had held for two weeks.
Bitcoin's bounce
Bitcoin wasn't far behind. It reclaimed the $71,000 mark after a shaky start to the week. The bounce wasn't as dramatic as XRP's, but it matters more for the overall market. When Bitcoin holds above that level, altcoins tend to follow, and Wednesday's action was no exception.
What Washington has to do with it
The catalyst, according to the facts on the ground, is a proposed digital-asset law making its way through Congress. The bill, still in draft form, would create a federal framework for how crypto assets are classified and traded. Traders read the proposal as a sign that regulators might finally step back from the enforcement-first approach that's hung over the market for months.
It's not law yet. The legislative process is messy, and the draft could change. But the market is betting that something gets passed this year, and that's enough to move prices.
The next test comes when the bill hits committee. If it survives intact, the rally could extend. If it stalls, don't be surprised to see XRP give back some of Wednesday's gains.
