XRP’s valuation is rising today as Bitcoin hits a new record high of $118,000 per token. The broader crypto market is also seeing gains, with XRP up 13.1%, Bitcoin up 4.1%, and Ethereum up 6.6% in the last 24 hours. The positive momentum is attributed to bullish sentiment across the market. Next week, discussions on cryptocurrency legislation could be a major market catalyst. Additionally, XRP and other cryptocurrencies are expected to see pricing movements based on macroeconomic and political developments, including regulatory discussions in the U.S. House of Representatives on July 14.

Investors are ramping up bullish bets on crypto as Bitcoin surpasses $18,000 for the first time and the Federal Reserve’s rate-cutting strategy is seen as a positive indicator. XRP and other cryptocurrencies are benefiting from new moves to form ETFs that hold the tokens as assets. Next week’s legislative discussions in Washington could have a significant impact on XRP’s valuation. The Motley Fool Stock Advisor team has identified the 10 best stocks to buy right now, excluding XRP, with the potential for high returns.

Read more at Nasdaq: Why XRP Is Surging Today