Recently, XRP has performed exceptionally well in the Crypto Assets market, driven mainly by two important factors. First, the U.S. Securities and Exchange Commission (SEC) withdrew its appeal against Ripple's programmatic sales, further confirming XRP's non-security status. Second, the GEN Act passed with a large majority, which weakened the SEC's regulatory power, making XRP a relatively safe Crypto Assets choice in the eyes of institutional investors.

The market reacted strongly to these positive news. On July 18, the price of XRP surged nearly 20%. In just one week, about 2,743 large investors (commonly known as "whales") purchased 1.4 billion XRP, leading to a near depletion of market liquidity. The market capitalization of XRP quickly rose to $211.9 billion, solidifying its third position on the cryptocurrency market capitalization leaderboard.

From a technical analysis perspective, XRP's daily chart shows an inverted head and shoulders pattern, breaking the neckline at $3.80. Some analysts have pointed out that this technical formation is similar to Bitcoin's movement in 2017, which leads to an optimistic outlook on XRP's future price increase.

In addition to the legal and technical benefits, XRP has also made new progress in application scenarios. Ripple is developing the RippleNet 3.0 version and has applied for a self-developed stablecoin license, planning to integrate with the cross-chain protocol Wormhole. These initiatives lay a solid foundation for the long-term value growth of XRP.

As these positive factors accumulate, market expectations for the approval of XRP-related ETFs are also heating up. Although the crypto assets market has always been highly volatile, investors still need to cautiously assess the risks, but the current development trend of XRP is undoubtedly attracting a lot of attention.