XRP price dropped 0.9% in the past 24 hours as investors brace for the upcoming CLARITY Act vote on January 15. The asset has reversed sharply from its January 6 high of $2.40, currently trading near $2.05.
XRP price could not overcome the resistance of $2.13 but fluctuated between $2.08 and $2.13 during the day.
In spite of the pullback of XRP, the overall crypto market increased by 0.6% in the past 24 hours, bringing its weekly surge of 0.73%. The market is, however, 2.32% below the monthly chart.
The overall market capitalization remained above the $3.05 trillion retracement mark. Bitcoin price traded above $90,000 while Ethereum held near $3,000 as other assets consolidated.
Crypto Clarity Bill Heads to Senate
The latest U.S. Senate Committee notice confirms a pivotal moment for digital assets.
Lawmakers will meet on January 15 at 10:00 AM ET to mark up the Digital Asset Market Structure and Clarity Act of 2025, also known as the CLARITY Act.
The proposed bill is set to have early momentum as indicated by its proposed markup, which seeks to offer a holistic regulatory framework to digital commodities.
The bill specifies the oversight functions of the Commodity Futures Trading Commission (CFTC), attempts to regulate wash trading, and requires evidence of reserves.
Provided the bill is enacted, the law has the potential to remove significant compliance challenges that institutional actors face in implementing altcoins and other crypto assets on a large scale.
Supporters of the bill believe that it will place guardrails and lead to innovation and transparency in the crypto sector.
Although the meeting is procedural, it shows that U.S. lawmakers are becoming more and more urgent to establish the legal limits of the digital asset sector. The hearing is likely to take the bill one step closer to a full Senate vote later in this year.
XRP Spot ETFs See $4.92M Inflow as Price Holds Above $2.00
The latest update from the U.S. market shows that XRP spot ETFs recorded a significant net inflow of $4.92 million on January 9.
The net inflow corresponds to approximately 2.32 million XRP added to spot exchange-traded funds.
The price action remains correlated with investor interest, as inflows signal rising confidence in XRP-based ETF products.
Will XRP Price Hold $3.00 Support Level?
As of the reporting, the XRP price trades near $2.09 after a sharp pullback from last week’s peak.
The volume of trading has slowed, indicating decreasing momentum in the wake of the recent period of rallying.
The MACD is below the signal line, which indicates that the bearish momentum is in the short run.
The RSI is currently only around 43, which goes to show that the situation is neutral without any oversold.
Assuming that $2.00 holds, the price of XRP may make an effort to recover to 2.20, a major point of resistance.
Source: XRP/USDT 4-hour chart: TradingviewA clean break of above $2.20 can open upside targets of $2.35 and $2.50. However, losing $2.00 could expose XRP to a deeper pullback toward $1.90. Below that level, $1.80 remains the next major downside support.
Source: https://coingape.com/markets/xrp-price-outlook-ahead-of-jan-15-clarity-act-vote/
