According to Blockworks, congressional leaders have returned to Capitol Hill for the final weeks of the session, with a looming deadline for the current federal spending plan set to expire on December 20. Despite the potential for a government shutdown, both Republicans and Democrats are showing interest in passing a continuing resolution to fund the government through March. This approach allows the GOP to delay major decisions until they control both chambers, while Democrats aim to confirm as many of President Biden's judicial nominations as possible before the year's end. The funding bills require a 60-vote threshold in the Senate, where Republicans hold 53 seats, ensuring Democrats retain some influence.

A three-month stopgap measure appears likely, which may delay significant crypto policy developments in early 2025. However, industry officials remain optimistic about the potential for new crypto policies under the second Trump administration. Coinbase's chief policy officer, Faryar Shirzad, expressed confidence that versions of the FIT21 bill and the Clarity for Payment Stablecoins Act could progress swiftly next year. A Republican majority in both the House and Senate could facilitate the advancement of crypto policy, but priorities will ultimately depend on lawmakers and committee heads.

There is speculation that Trump may issue executive orders related to crypto, potentially appointing a 'crypto czar' to lead these efforts. This position could involve a team of industry executives and stakeholders. Observers suggest that Trump's top industry donors might be considered for this new crypto policy council. Meanwhile, the Senate will need to confirm a successor for SEC Chair Gary Gensler and a replacement for resigning Commissioner Jaime Lizárraga. Rumors indicate that Trump might announce his choice for the SEC leadership soon, with former SEC Commissioner Paul Atkins and ex-acting Comptroller of the Currency Brian Brooks among the names mentioned.

The appointment of a new SEC chair could significantly impact the agency's enforcement actions and target priorities. While ongoing enforcement actions are unlikely to be abruptly halted, changes in leadership could influence the SEC's approach. As the political landscape evolves, the intersection of crypto, macroeconomics, policy, and finance continues to be a focal point for industry observers and stakeholders.

According to PANews, recent data disclosed by Cointelegraph on the X platform reveals that Ethereum's market capitalization has surpassed that of major American membership warehouse chain Costco and Vanguard Group, Inc. This achievement has propelled Ethereum back into the top 30 global assets by market capitalization, currently ranking at the 29th position.

This development highlights Ethereum's significant growth and influence in the global financial landscape. The cryptocurrency's ability to surpass well-established companies like Costco and Vanguard underscores its increasing acceptance and integration into mainstream financial systems. Ethereum's rise in market capitalization reflects its expanding role in various sectors, including decentralized finance (DeFi) and non-fungible tokens (NFTs), which continue to attract substantial investment and interest from both individual and institutional investors.

The ascent of Ethereum in the global market capitalization rankings is indicative of the broader trend of cryptocurrencies gaining prominence as viable investment assets. As digital currencies continue to evolve and mature, their impact on traditional financial markets becomes more pronounced, challenging conventional asset classes and prompting discussions about the future of finance. Ethereum's current position in the global market capitalization rankings serves as a testament to its growing importance and potential in shaping the financial landscape.

According to CoinMarketCap data, the global crypto market cap is $3.42T, a 1.03% increase over the last day.Bitcoin (BTC) has traded between $95,694 and $97,179 over the past 24 hours. As of 09:30 AM (UTC) today, it is trading at $96,888, up by 0.23%.Most major cryptocurrencies by market cap are trading mixed. Market outperformers include CVX, ZRO, and THETA, up by 37%, 28%, and 23%, respectively.Top stories of the day:Japan's Financial Services Agency Revisits Stablecoin Rules, Restricts Issuance to Trust BanksXRP Market Cap Surges to $110.5 Billion, Climbs Global Asset RankingsGlobal Bitcoin ETFs Reach Record Holdings of 1.26 Million BTC Worth $123 BillionReport: 9 New Bitcoin Spot ETFs Acquire 826,792 BTC Since Launch in the U.SGrayscale’s Crypto Portfolio Surges 85%, Fueled by Triple-Digit Altcoin GrowthMichael Saylor: 60 Public Companies Can Issue Equity to Acquire BitcoinMarket movers:ETH: $3694.89 (+0.29%)SOL: $237.11 (-2.66%)XRP: $1.9243 (+1.96%)BNB: $655.08 (-1.76%)DOGE: $0.42654 (-0.38%)ADA: $1.0698 (-3.78%)AVAX: $44.14 (-3.35%)TRX: $0.2077 (+1.27%)SHIB: $0.00002956 (+10.75%)TON: $6.767 (+2.34%)

According to the latest data from Infinite Market Cap, XRP’s market capitalization has surpassed $110 billion, reaching a record high of $110.5 billion. Over the past seven days, XRP has surged by 33.91%, reflecting strong market momentum.This milestone marks a significant leap in XRP’s global asset ranking, climbing 13 places to secure the 176th spot. XRP now ranks above luxury giant Dior and semiconductor powerhouse Micron Technology, highlighting its growing prominence among the world’s largest assets.The recent rally underscores heightened investor interest in XRP, further solidifying its position as one of the leading cryptocurrencies by market value. The surge comes amid broader optimism in the crypto space, with XRP's performance drawing attention from both retail and institutional investors.

Analyst Egrag projects XRP could reach $13 with the crucial $1.10 barrier cleared.

XRP recently surged past $1, marking its highest level over three years.

Despite a pullback, Egrag believes the $1.10 level signals the start of a strong bullish trend for XRP.

Analyst Egrag says the $13 price point is a promising target for XRP, especially after the cryptocurrency broke through the crucial $1.10 barrier. It’s worth noting that XRP moved past the $1 mark two weeks ago after trading below it for over three years.

At the time XRP was trading below $1, specifically on November 5, Egrag shared an analysis highlighting that reaching the $1.10 region would act as a catalyst for a more explosive price rally. Based on a logarithmic measured move, he projected a price surge to as high as $13, while a non-logarithmic measured move suggested a target of $6.40.

Egrag stated that the $1.10 level would be the launchpad in both scenarios. Just days after his forecast, XRP regained the $1 price point. What’s more, XRP made a bold move toward the $2 range, trading as high as $1.63 last Saturday.

XRP $1.10 Ignition Stage Starts

The analyst is now even more confident in …

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