XRP prices surged Monday after the White House announced it had reached an agreement on the CLARITY Act, a long-awaited piece of crypto legislation. The news lifted the entire market, with Bitcoin gaining 2% to $66,310 and total crypto market value rising 1.25% to $2.25 trillion over the past 24 hours.
White House Agreement
The White House and lawmakers have finally come to terms on the CLARITY Act, according to sources familiar with the negotiations. The bill aims to provide a clear regulatory framework for digital assets, addressing the long-standing question of whether certain tokens are securities or commodities. XRP, which has been at the center of regulatory uncertainty for years, was one of the biggest beneficiaries of the news. The agreement marks a significant step forward after months of debate.
Market Reaction
Bitcoin's 2% gain to $66,310 helped lift the entire market. The total crypto market cap now sits at $2.25 trillion, up 1.25% in the latest 24-hour period. The rally was broad-based, but XRP's move was the standout. Traders saw the CLARITY Act as a positive step toward regulatory clarity, which has been a major overhang for the industry. The gains come as investors bet that clearer rules will attract more institutional capital.
The agreement means the CLARITY Act can now move to a vote in Congress. If passed, it would mark the first major federal crypto legislation in the U.S. The timing of the vote hasn't been announced yet, but the White House's backing gives it significant momentum. Industry observers will be watching closely to see if the bill can clear both chambers. The next few weeks will be critical for the legislation's fate.
