The U.S. Senate will address CLARITY Legislation Following a procedural vote, after the announcement of the news, XRP rose by over 5% on September 15, once again reaching above $1.4. The market is viewing this vote as an important catalyst for short-term trends, as it relates to the division of responsibilities in US crypto regulation and also affects the sentiment-based pricing of XRP.
The 60-vote threshold has become a focal point.
Senate Republicans are pushing the bill to the next stage, but they still need to secure the support of about 6 Democratic senators. Elizabeth Warren, the Democratic leader of the Senate Banking Committee, expressed opposition on Monday evening, stating that the bill fails to prevent Trump from continuing to profit from crypto businesses.
According to the content of the bill, most decentralized digital asset transactions will be regulated by the Commodity Futures Trading Commission (CFTC) rather than the Securities and Exchange Commission (SEC). This change is particularly noteworthy for the CFTC, as it has long been involved in disputes regarding the securities nature of these assets.
$1.49 to $1.55 remains a resistance level.
From a price performance perspective, XRP has yet to effectively break through the range of $1.49 to $1.55. This area has seen five attempts to rise suppressed previously, and even during the rebound in August, the price was unable to remain stable in this range.
- If the bill crosses the 60-vote threshold, the price could rise to $1.7.
- If the voting is obstructed, prices could fall back to around $1.3.
- Average price weighted by trading volume in the $1.3 range over nearly six months
Tech enthusiasts focus on historical patterns.
Analyst Celal Kucuker believes that the current trend of XRP bears similarities to the period before the breakthrough at the end of 2024. His chart shows that the angle of both downward resistance lines is 13.55°, and the current price level is also close to the 50-day moving average, which is similar to the position before the previous round of upward movement began.
However, this judgment is still based on the premise that historical patterns may repeat themselves and has not yet been verified by the market. The more direct point of observation at present is the outcome of the Senate vote, as well as whether XRP can reach $1.55 and further approach $1.7.
