XRP Price Action Heats Up Ahead of Senate Vote and Fed Rate Decision
XRP's price action has been closely watched ahead of two major events this week. On Monday, XRP traded near $1.35-$1.36 as traders awaited the Senate vote on the CLARITY Act cloture and the Federal Open Market Committee's rate decision. The CLARITY Act aims to regulate DeFi protocols by requiring them to register with the CFTC and comply with Bank Secrecy Act requirements, while also clarifying when credit unions can offer digital asset services.
The Senate vote is scheduled for September 15 at 2:15 p.m. ET, and requires 60 votes to pass. Republicans hold just 53 seats, meaning they need at least seven Democrats on board. President Trump met with advisers last Friday to discuss ethics language in the crypto bill, which was seen as a key breakthrough.
Meanwhile, the Federal Open Market Committee meets September 15-16, with the rate announcement due Wednesday at 2 p.m. ET. Futures markets put the odds of a quarter-point rate hike near 90%, with August inflation coming in at 3.4% year-over-year keeping pressure on the Fed to act.
On the technical side, analyst Ali Charts is watching the $1.31-$1.35 zone as key support, while resistance levels to watch are $1.37, then $1.40, and $1.45 if momentum builds. XRP's RSI was near 53 on Monday - neutral territory - while the MACD remained slightly negative, pointing to consolidation.