XRP Price Soars Ahead of Clarity Act Vote Amid Mixed Views

XRP has seen its price rise by 6.4% in the last 24 hours, currently trading at $1.48. The increase comes ahead of Tuesday's cloture vote on the CLARITY Act, which aims to regulate stablecoins and ensure their stability.

The Republicans have released what they call their 'last, best, and final offer' on the bill, with Treasury Secretary Scott Bessent reaffirming his support for it. He believes that the bill is essential in ensuring America's dominance in the global technology race.

However, not everyone is convinced of the bill's merits. Eight banking groups have expressed their opposition to the stablecoin provisions, arguing that they do not go far enough. They are pushing for broader limits on interest-like stablecoin rewards.

Crypto analyst Casi Trades believes that XRP could still reach a new local high, with resistance levels at $1.74-$1.78. However, if the price pumps and then gets rejected near this level, it would not necessarily mean that the broader trend has failed. The real structural signal to watch for is a break above $1.65 that holds as support.