Recently, the cryptocurrency market has experienced a significant bullish trend, with XRP standing out, achieving a price increase of 17.25% within 24 hours, becoming the focus of market attention. Behind this bullish trend, there seems to be a deeper market logic worth exploring.

Recently, the U.S. House of Representatives passed the GENIUS Act, which establishes a clear regulatory framework for stablecoins pegged to the U.S. dollar. The passage of this act is seen by industry insiders as an important milestone in the development of the digital asset industry, greatly enhancing market confidence in the compliance process of encryption currencies, and becoming one of the key factors driving market sentiment.

In this round of market, the five major mainstream cryptocurrencies have shown varying degrees of performance:

XRP is undoubtedly the brightest star, with a 17.25% increase and a trading volume of $16.8 billion showcasing investors' strong confidence in its future development. Ethereum (ETH) also performed well, rising by 3.33%, and a trading volume of $43 billion reflects the market's recognition of the continuous development of its ecosystem.

Dogecoin (DOGE), as a well-known meme coin, has seen a moderate increase of 2.50%, but the trading volume of $11.2 billion demonstrates its strong community support and market liquidity. Binance Coin (BNB), as the platform token of a well-known exchange, has risen by 1.39%, with a trading volume of $2.5 billion reflecting its significant position in the ecosystem.

Bitcoin (BTC) has seen a relatively small increase of 0.59%, but the massive trading volume of 49.5 billion USD still highlights its market leadership. Currently, the price of Bitcoin has surpassed the 119,000 USD mark, and technical indicators suggest there is still potential for further increases.

The emergence of this wave of market conditions not only reflects the positive response of the market to favorable regulatory policies but also demonstrates investors' confidence in the future development prospects of various encryption currency projects. However, we should also note that the encryption currency market has always been highly volatile, and investors need to remain cautious and manage risks when participating.