XRP Buyers Hold Key Price Level Amid CLARITY Act Vote Tensions
XRP holders are anxiously waiting to see if the current price level will hold. Analysts believe that if buyers can maintain their position, a significant rally could be on the horizon.
The 1-hour chart shows XRP's recent price action. After reaching highs near $1.49 in early September, the asset fell back and reclaimed its August peak. However, it immediately pulled back and has been trading within a compressed range, with multiple sell-side order blocks stacked between $1.42 and $1.50.
The most recent rejection came off the $1.42 level, pushing price down to the $1.32 range where a buy order block now sits. This buy order block is significant, as it represents a large concentration of bid volume at this level. A second, larger buy order block sits far below around $1.10, providing a longer-term support floor.
The market is closely watching the upcoming cloture vote for the CLARITY Act on September 15, with many participants believing something big could happen on that day. If buyers can hold the current price level, the next target would be a retest of the resistance cluster between $1.42 and $1.50.