- XRP and BNB outperformed the broader crypto market on Friday following a key Senate committee vote on new crypto legislation.
- Retail traders widely viewed the advancement of the CLARITY Act as a major positive development for the industry.
- Bitcoin briefly topped $82,000 but saw more modest gains compared to major altcoins, with significant market volatility resulting in hundreds of millions in liquidations.
Cryptocurrency prices surged on Friday morning after the Senate Banking Committee advanced the Digital Asset Market CLARITY Act of 2025, with Ripple‘s XRP and Binance Coin leading the charge. Consequently, XRP’s price climbed 2.8% to around $1.47 after briefly trading above the key $1.50 resistance level.
However, some retail traders on Stocktwits expressed disappointment that XRP failed to hold above that psychological threshold. Meanwhile, BNB‘s price increased 2.4% to approximately $688 as sentiment around the token improved from ‘bearish’ to ‘neutral’.
Bitcoin’s price rose a more modest 1.5% to about $80,700 after also hitting an intraday high above $82,000. Retail sentiment for Bitcoin on the platform shifted to ‘bullish’ from ‘neutral’ territory following the regulatory news.
Most retail traders on Stocktwits believe the committee vote was a “game changer” for the crypto industry, according to an ongoing poll. At least one-third of respondents view it as a step in the right direction, while only 7% believe the legislation could fail before August.
The overall cryptocurrency market cap inched up 0.8% to hold at $2.76 trillion. This price action showed around $334 million in liquidations over the past day, with a near-even split between long and short positions.
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