XRP Gains Momentum Ahead of CLARITY Act Vote

The XRP market is currently in what one expert calls 'pre-clarity mode', a calm period before the CLARITY Act vote, which is roughly two weeks away. This state of affairs may give way to daily volatility once lawmakers actually vote.

According to prediction platform Kalshi, close to half (45%) of traders expect XRP to at least double from current levels by year-end, with odds that it finishes above $2 sitting near 45%. Around 21% of traders are betting on a higher target of $7 by year-end.

The expert finds the trade above $4.50 particularly interesting, as it is an unexpected level but not entirely ruled out. He also suggests that XRP could break its all-time high before the year closes.

XRP longs appear to be gaining confidence as price holds the $1.36 support floor 'by the skin of its teeth', warning that a bigger volatility move looks imminent either way. The accumulation signals have surged to 90 out of 100, the highest reading since the recent short-term correction began.

September has historically been a decent month for XRP, with an average return of +12.19% and five green Septembers against three red ones since 2018, which tilts the odds bullish heading into the month. Analyst Dark Defender notes that August closed with a bullish green candle and that XRP is now breaking through initial resistance, signaling a new upward impulse.