The cryptocurrency market is experiencing notable momentum as XRP prices surged 7.8% in a single day, while shares of Coinbase Global reached a new all-time high following the passage of the GENIUS Act. The developments signal a potential shift in the regulatory landscape for digital assets in the United States.
Coinbase Stock Soars Following Regulatory Progress
On Friday, Coinbase’s stock soared to an intraday high of $432.40, marking a significant response to recent developments in U.S. cryptocurrency regulations. This surge followed the historic bipartisan vote in the U.S. House of Representatives in favor of the GENIUS Act, which aims to provide federal oversight on stablecoins.
Coinbase’s stock had briefly touched an all-time closing high earlier in the week, driven by optimism surrounding the new legislation and the company’s innovative product plans. The stock initially priced at $250 during its IPO in April 2021 has seen remarkable growth, with a nearly 70% increase in 2025 alone. Earlier this week, Coinbase’s market capitalization surpassed $100 billion for the first time.
Emilie Choi, President of Coinbase, described the passing of the GENIUS Act as a “giant step toward cementing America’s dominance in crypto and tech innovation.” This sentiment highlights the growing optimism among investors regarding the future of digital assets.
Regulatory Changes and New Product Offerings
Coinbase also introduced its new Base App, which integrates trading, social tools, and payments under its Ethereum Layer 2 network. This rebranding aims to broaden Coinbase’s services beyond simple exchange operations, encouraging greater adoption of stablecoins. The firm is offering a 4% annual percentage yield (APY) on USDC, which analysts believe will enhance user engagement and drive revenue growth.
Bernstein analysts have maintained an “outperform” rating for COIN stock, setting a price target of $510. The renewed interest from retail users is evident, as Coinbase re-entered the Apple App Store’s top 100 rankings this week, further underscoring the company’s expanding ecosystem.
SEC Chair Paul Atkins has also indicated a willingness to adapt regulations to facilitate tokenization within financial markets. During a recent event, Atkins stated that the SEC is considering an “innovation exemption” to allow for new trading models. He emphasized that if an asset can be tokenized, it will be, highlighting the transformative potential of blockchain technology on traditional financial systems.
Atkins reiterated that the GENIUS Act assigns regulatory oversight of stablecoins to the Treasury and Federal Reserve, rather than classifying them under securities laws. This shift aims to clarify the regulatory framework and is expected to take effect 18 months after final regulations are issued. Notably, Senator Elizabeth Warren has voiced concerns that the legislation may leave consumers vulnerable to fraud.
Despite this criticism, the cryptocurrency sector has welcomed the GENIUS Act as a significant regulatory advancement. Ethereum developer Eric Conner remarked that the act signifies “DeFi is winning the regulatory argument,” reflecting a broader acceptance of digital finance in legislative discussions.
XRP’s Price Movement and Market Dynamics
As the cryptocurrency market rallies, XRP has emerged as a key player, with its price jumping from $3.25 to $3.47 in just 24 hours. This breakout indicates a significant shift in market dynamics, especially after overcoming the resistance level of $3.40.
Trading volumes for XRP exceeded the daily average at 490 million, suggesting heightened market participation. Analysts note that XRP’s recent performance positions it for a potential retest of its $3.84 high from 2018, with bullish momentum driven by whale accumulation and institutional investment.
As XRP’s price hovers around $3.45, market observers are watching closely for movements above $3.53, which could propel it toward the $4.00 mark. The addition of XRP to the Grayscale Digital Large Cap Fund and increased usage in settlements have further fueled interest in the digital asset.
With speculation around Exchange-Traded Funds (ETFs) also contributing to market momentum, traders are keenly focused on the actions of XRP in the coming days, particularly as it seeks to break through resistance levels.
