Recently, XRP has attracted widespread attention in the cryptocurrency market, primarily due to its significant breakthroughs in regulation. This series of favourable information has not only driven a substantial increase in the price of XRP but also solidified its leading position in the market capitalization rankings of cryptocurrencies.

First of all, in terms of the regulatory environment, XRP has welcomed a significant turnaround. The U.S. Securities and Exchange Commission (SEC) made an important decision on July 18 to fully withdraw its appeal against Ripple's programmatic sales. This move marks the formal recognition of XRP as a non-security, completely lifting the regulatory burden that lasted for four years. Meanwhile, the high vote passage of the "GENIUS Act" further weakened the SEC's jurisdiction, transferring the regulatory authority over stablecoins to the Treasury Department and the Office of the Comptroller of the Currency (OCC). These changes have positioned XRP as a relatively safe encryption asset in the eyes of investors.

Influenced by these favorable factors, XRP's market performance has been impressive. On July 18, the price of XRP rose by nearly 20%. As of July 19, its market capitalization had surged to approximately $208.68 billion, firmly ranking third in the cryptocurrency market capitalization leaderboard.

There has been significant progress in terms of ETFs. The ProShares Ultra XRP ETF began trading on NYSE Arca on July 18, providing institutional investors with a compliant investment channel. The market is also anticipating the Rex - Osprey XRP ETF, which may be approved on July 25, as well as the possible launch of a spot XRP ETF in the future, all of which could further drive up the price of XRP.

On-chain data also shows positive signals. Within a week, 2,743 large addresses have accumulated purchases of 1.4 billion XRP, setting a new historical high. This not only increases the scarcity of XRP but also reflects investors' confidence in its future prospects. Additionally, the number of new addresses on the XRP chain has surpassed 12 million, and Google search interest has even exceeded that of Bitcoin, highlighting investors' high attention towards XRP.

Although XRP is currently on a strong momentum, investors still need to cautiously assess market risks and closely monitor changes in the regulatory environment and market trends.