XRP Braces for CLARITY Act Vote Amid Cautious Technical Outlook
XRP traders are bracing for a potentially pivotal week ahead of the CLARITY Act vote, which has become a major focus across the XRP community. The legislation's impact on XRP's regulatory position is a significant talking point among supporters.
The technical picture suggests that XRP is consolidating above its major EMAs while testing a critical resistance zone. Positive Chaikin Money Flow (CMF) indicators continue to show capital inflows, but weakening momentum signals some caution.
Derivatives data shows reduced conviction, with open interest declining sharply from $10 billion during the July rally to around $3.13 billion on September 7. However, spot flows offer a slightly more encouraging signal, with a net inflow of $7.32 million recorded by September 9.
A decisive breakout above $1.50 could push XRP toward $1.5459 and potentially $1.70. However, failure to hold the $1.40-$1.41 support zone could send XRP toward the 20-day EMA at $1.3647 or even lower.