XRP price retreated to $1.33 as Clarity Act approval odds dropped to 53%, raising concerns among traders. The XRP continued its weekly decline moving below the critical level of support of $1.40, indicating the increasing bearish pressure.
Broader market sentiment weakened as the crypto sector declined 3.24% to $2.19 trillion over the past 24-hours.
This decline came after the Trump administration announced a new tariff of 15%. The policy change was a sudden risk-off event that impacted the key assets and increased the uncertainty in the future perspective of XRP.
Clarity Act Passage Odds Plunge to 53%
The outlook for the Clarity Act shifted sharply on prediction markets this week amid uncertainty. Polymarket odds fell from 70% to 53% and then rebounded partially later on Tuesday.
The suggested bill would establish control over digital assets among federal agencies with better requirements. Policymakers are trying to explain who oversees the issuers of tokens and stablecoins within a particular set of laws.
The White House officials took a compromise that limited yields on idle holdings of stablecoins in closed-door discussions. The proposal was introduced at ETHDenver when industry and banking leaders had meetings last Friday.
The talks were reduced to activity-based rewards, and compromises were sought before a March deadline.
Nevertheless, fading optimism and unstable mood in the digital asset markets have been dampened by the falling odds over the course of the week. There is also pressure caused by geopolitical tensions and new 15% tariffs in the world recently.
XRP Records Largest Realized Loss Spike Since 2022
XRP price has witnessed its steepest on-chain realized loss surge since 2022.
In the market data, weekly losses were close to negative $1.93 billion. A similar selloff was experienced 39 months back when there was a lot of fear. Following the episode, XRP soared up 114% in 8 months.
Analysts say sharp realized losses often reflect widespread capitulation. When weaker holders exit, selling pressure can gradually ease. These spikes are considered by some traders as signs of an early recovery.
XRP Price Prediction: Can Bulls Defend the $1.30 Support Level?
The XRP price decreased to $1.33 during Tuesday’s early trading session. The four-hour chart shows persistent selling pressure across the broader trend.
The bigger line is around $1.50, where sellers had turned down advances. Technical indicators indicate a short-term weakening in momentum.
The RSI is lingering around 34, indicating oversold without any apparent signs that it is reversing. In the meantime, the MACD is in the negative region and declining bullish trends.
Source: XRP/USDT 4–hour chart: TradingviewThe nearest support is at around $1.30, which traders are keenly observing. Any further decline below this level might lead to the opening of the doors to the price levels of $1.25 and $1.20. On the other hand, recovery to around $1.40 could lead to recovery to $1.50 and even more.
Source: https://coingape.com/markets/xrp-price-outlook-as-clarity-act-passage-odds-plunge-to-53/
