XRP Price Explodes 15% as Regulatory Optimism Takes Hold

XRP price surged 15.04% to $1.16 within 24 hours as cryptocurrency markets staged a powerful rebound driven by regulatory optimism.

The move came after Bitcoin bounced back above $71,000 and President Donald Trump's call for Congress to approve the CLARITY Act during an August 19 White House summit.

Trump also mentioned that the United States was considering sizable purchases of cryptocurrencies, including Bitcoin. Brad Garlinghouse, CEO of Ripple, was present at the meeting, which reinforced the positive sentiment towards XRP.

The Treasury's decision to increase long-term bond buybacks also contributed to the rally, as reduced yields stimulated investment in risk assets like cryptocurrencies.