XRP Price Rockets 6% Amid Pro-Crypto SEC Guidance

Crypto

XRP Price Rockets 6% Amid Pro-Crypto SEC Guidance

Despite the stock market dip and negative investor sentiment, XRP price has managed to gain 6% on April 5.

According to data from TradingView, the token climbed 6%, now trading at $2.16 and marking a 5.94% gain in the past 24 hours. This positive price action lifted XRPs market capitalization to $126 billion, matching its daily growth percentage and pointing to renewed momentum around the asset.

Accompanying the price increase is a significant uptick in trading activity. XRPs 24-hour trading volume has jumped to $4.3 billion, a 15.04% increase from the day before.

Source: TradingView

With a volume-to-market-cap ratio of 3.43%, XRP is exhibiting a healthy level of liquidity that reflects strong market interest.

On the supply side, the token remains near its limit, with 99.98 billion XRP in circulation out of a maximum 100 billion. This places its fully diluted valuation at roughly $216.21 billion, highlighting the tokens substantial footprint within the crypto ecosystem.

SEC v. Ripple: New hope？

The U.S. Securities and Exchange Commission issued a clarifying statement regarding stablecoins, saying it does not consider certain types of USD-pegged tokens to be securities.

These are defined as stablecoins that maintain a one-to-one peg with the U.S. dollar, are redeemable on demand and are backed by low-risk, liquid assets equal to or greater than the total issued supply.

Related

While this clarification does not directly address XRP, it has been received as a broader signal of regulatory thaw — one that could benefit Ripple Labs and its ongoing legal battle with the SEC.

With optimism rising around the prospect of Congress enacting its first piece of crypto legislation, particularly focused on stablecoins, the tone in Washington may be shifting — and thats a development XRP investors will be watching closely.