The U.S. Senate recently passed the GENIUS Act in a strong bipartisan vote. The bill introduces a federal framework to regulate U.S. dollar–denominated stablecoins. It aims to support innovation in digital payments and strengthen the global dominance of the U.S. dollar. Major stablecoin issuers like Ripple, Circle, and Tether now gain greater regulatory clarity.
Ripple entered the stablecoin sector in 2024 with RLUSD. The stablecoin has quickly reached a $415 million market cap, marking Ripple’s serious entrance into the regulated digital asset space. RLUSD is fully backed 1:1 by U.S. dollar deposits and short-term government bonds. Third-party firms audit the reserves monthly, meeting the new regulatory standards.
State-Level Licenses Open Doors for Ripple
Ripple has already secured more than 50 money transmitter licenses (MTLs) across various states, including New York and Texas. These licenses allow Ripple to offer compliant cross-border payment services using both XRP and RLUSD. On June 19, XRP researcher SMQKED noted this achievement on X, emphasizing Ripple’s readiness to serve U.S. financial institutions under clear legal guidance.
The GENIUS Act now supports Ripple’s long-term vision to modernize domestic and international payments. It aligns with Ripple’s strategy to provide regulated and efficient payment solutions using XRP and RLUSD. XRP community members believe the Act could spark increased institutional adoption of RLUSD, which in turn could boost demand for XRP.
XRP Utility Expected to Grow
As institutions adopt RLUSD for transactions on the XRP Ledger, XRP will see higher usage. Since XRP covers transaction fees and those fees are burned this could lower the total supply of XRP over time. SMQKED also suggested that both RLUSD and XRP are now better positioned to compete with central bank digital currencies (CBDCs) thanks to the GENIUS Act.
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Well-known XRP supporter Chad Steingraber believes the bill could drive XRP to his long-held price target of $250. While this forecast remains speculative, the sentiment reflects growing optimism within the XRP community.
The GENIUS Act now heads to the House of Representatives for further consideration. President Donald Trump has publicly urged lawmakers to pass the bill without delay to maintain U.S. leadership in digital finance.
