XRP (XRP +17.77%) is rocketing higher today, up 21.5% in the last 24 hours as of 2:17 p.m. ET on Aug. 20, 2026, after President Trump urged Congress to pass the Clarity Act alongside key industry leaders, including Ripple CEO Brad Garlinghouse.
The S&P 500 and Nasdaq Composite were down 0.7% and 1.1%, respectively, on Thursday.
CRYPTO: XRP
Key Data Points
Trump told Congress to pass the Clarity Act with Ripple's CEO standing beside him
The CEO of Ripple, the company behind XRP, joined several crypto executives yesterday at the White House to discuss the future of regulating digital assets with Trump and key regulators like Securities and Exchange Commission Chair Paul Atkins and Commodity Futures Trading Commission (CFTC) Chair Mike Selig.
Later, flanked by the group, Trump spoke to the press, saying that Congress should "take the next step" by passing the Clarity Act, a critical market-structure bill for digital assets.
A Clarity Act win would help Ripple more than it would help XRP
Ripple stands to gain considerably from any formalizing legislation. The company's products interface directly with traditional finance; clear rules would open up new opportunities.
Image source: Getty Images.
Whether the bill passes is an open question; it's currently stalled in the Senate. The thing is, even if it passes, I'm not sure it will help XRP as much as some investors might hope. Ripple's success is not necessarily XRP's success.
