XRP Price Volatility: Will CLARITY Act Progress Push Token Above $2?

The price of XRP is currently being watched closely by traders as it holds onto key support levels. Analysts are looking at several factors, including the progress of the CLARITY Act in the United States and new ETF data showing no daily inflows.

EGRAG Crypto has shared a chart indicating that XRP has broken out of a multi-year symmetrical triangle, with the most important support area sitting between $0.85 and $0.88. This level is crucial as it marks the lower side of the triangle, the White Bridge, the monthly 111 EMA, and the expected breakout retest.

If XRP closes below this area on a long-term basis, the bullish setup could weaken. However, if buyers defend the support area and move above $1.23, then $1.65, before trying to break through the $3.00 to $3.50 area, it could indicate that the recent pullback is coming to an end.