Why XRP Skyrocketed This Week

Key Points

• XRP surged this week, boosted by Bitcoin's new all-time high.

• Ripple Labs CEO Brad Garlinghouse testified before the Senate Banking Committee, advocating for clearer regulatory guidelines

• 10 stocks we like better than XRP ›

XRP (CRYPTO: XRP) is on the rise this week, up 25.3% from last Thursday at 1 p.m. ET as of 12:43 p.m. ET on Friday. The rise comes as the S&P 500 (SNPINDEX: ^GSPC) gained 0.5% and Bitcoin reached an all-time high.

Aside from Bitcoin's record-setting high, which always moves the rest of the market, Ripple Labs CEO Brad Garlinghouse appeared before Congress this week, boosting hopes that XRP will see further adoption.

Crypto goes to Washington

A select few of leaders from the crypto community testified in front of the Senate Banking Committee on Wednesday. Garlinghouse, whose Ripple Labs created XRP, outlined how he thought Congress should regulate the industry, saying that a lack of rules has "prohibited meaningful progress."

The CEO continued, "At Ripple, we certainly saw firsthand how the lack of clear rules of the road can be weaponized to target good actors," referring to the legal battles his company has fought with the Securities and Exchange Commission.

Image source: Getty Images.

His appearance in front of the Senate, just before the House of Representatives kicked off what some members are calling "Crypto Week," was seen favorably by investors.

XRP has a lot to prove

Increased regulation would likely benefit XRP compared to other crypto projects, as it has always attempted to paint itself as a more "legitimized" institutional crypto. However, I continue to think that XRP is overvalued and faces major hurdles to widespread adoption in traditional banking. I would stay away from XRP.

Should you invest $1,000 in XRP right now?

Before you buy stock in XRP, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and XRP wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $674,432!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,005,854!*

Now, it’s worth noting Stock Advisor’s total average return is 1,049% — a market-crushing outperformance compared to 180% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.

See the 10 stocks »

Story Continues

*Stock Advisor returns as of July 7, 2025

Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin and XRP. The Motley Fool has a disclosure policy.

Why XRP Skyrocketed This Week was originally published by The Motley Fool