Bitcoin, Ethereum, and XRP show resilience as the U.S. Crypto Market Structure Bill nears, potentially driving institutional interest.
The U.S. Crypto Market Structure Bill has been a key focus for traders and investors. If the bill passes this month, it could lead to significant market shifts.
Bitcoin, Ethereum, and XRP have shown resilience during recent sell-offs. Analysts suggest that while market uncertainty remains, a clear regulatory framework could alter their price trajectories.
Bitcoin Support Levels Could Strengthen if Crypto Bill Passes
Bitcoin has been holding a key rising trendline, which analysts see as an important support structure.
Despite recent market pressure, Bitcoin price remains above this trendline. Analyst CryptoBusy believes the recent pullback represents a healthy reset rather than a breakdown of support.
As Bitcoin tests these levels, it continues to show higher lows on the local timeframe.
According to CryptoBusy, as long as Bitcoin remains above the trendline, the structure remains intact. If the price moves past resistance zones, Bitcoin could see an upward rally.
If the U.S. Crypto Market Structure Bill passes, it could increase investor confidence in Bitcoin.
A clearer regulatory framework might encourage institutions to enter the market more freely.
This could push Bitcoin price toward new highs, as major resistance levels get tested and potentially broken.
Ethereum Compression Below Key Resistance Signals Possible Breakout
Ethereum has been trading within a compression pattern, where price action forms higher lows.
Analyst Merlijn The Trader has pointed out that Ethereum faces a key resistance around $3,400.
Ethereum has not yet broken this level, but each decline has seen buyers step in, preventing further losses.
Despite the recent decline, Ethereum structural integrity remains intact. The chart suggests that if Ethereum breaks the $3,400 resistance, it could quickly move toward $4,000 or higher.
If the bill passes, Ethereum could see increased institutional interest, especially with the rise in staking activity.
Should the Crypto Market Structure Bill provide clarity, Ethereum path could become more predictable.
Institutional support may drive Ethereum past its current resistance levels, allowing it to continue its bullish trend.
This could be a catalyst for the next phase of growth in Ethereum market.
Related Reading: Ethereum at a Crossroads as Vitalik Buterin Pushes for Radical Simplification
XRP Long-Term Bullish Structure Remains Unaffected by Market Volatility
XRP has remained relatively stable during recent market fluctuations. The cryptocurrency has held strong above its multi-year breakout structure, according to analyst CryptoPatel.
Despite market volatility, XRP has not broken below critical support levels, such as $1.30.
This support zone between $1.30 and $1.90 is crucial for maintaining XRP’s bullish structure.
If the U.S. Crypto Market Structure Bill passes, XRP could see increased demand from institutional investors. The clear regulatory framework may help attract new capital to the asset.
XRP price could test higher targets if institutional interest grows. Targets such as $3.50, $5.00, and even $10 are seen as potential levels where the cryptocurrency could react.
However, any significant breakdown below $1.30 would change the market outlook.
Source: https://www.livebitcoinnews.com/what-happens-to-ethereum-xrp-and-bitcoin-if-the-crypto-bill-passes-this-month/
