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XRP price skyrocketed nearly 7% in 48 weekend hours, climbing from $2.08 to $2.22, as the market reacted to the approval of the so-called “Big Beautiful Bill" by the U.S. Senate. The legislation, which is all about budget restructuring, triggered a speculative reaction across risk assets, with crypto front-running traditional markets on expectations of easier monetary policy ahead.
But while XRP showed strong momentum initially, the move began to cool once the short-term details came into focus.
The proposal points to a bigger spending gap, a weaker long-term dollar and a higher chance of intervention to keep borrowing costs in check. Crypto assets often do well in that kind of setup.
It has been a quick reaction for XRP, breaking through key resistance at around $2.15 and hitting its highest point since mid-June. But the breakout stalled just above $2.22 as the market got a reality check. The bill has not cleared its final stages yet.
There will be a final vote next week to meet the July 4 deadline. Then, the House and Senate versions will still need to be matched up before anything becomes law. There is also the uncertainty around how soon any monetary adjustments would follow.
The main point to take away from all this is that fiscal instability and structural deficits are a good thing for the crypto market. It does not matter if the talk is about Bitcoin, XRP or the altcoins in general; the story is moving back toward the big picture — inflation, debt and the credibility of fiat money.
For XRP specifically, if it can hold above $2.15, it could set the stage for more growth, especially if upcoming sessions show that the market wants safe havens beyond the dollar.
Vladislav Sopov
U.Today Editorial Team